QRG Capital Management Inc. Buys 3,066 Shares of Silgan Holdings Inc. (NYSE:SLGN)

QRG Capital Management Inc. increased its stake in Silgan Holdings Inc. (NYSE:SLGN) by 11.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 29,339 shares of the industrial products company’s stock after purchasing an additional 3,066 shares during the quarter. QRG Capital Management Inc.’s holdings in Silgan were worth $1,527,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. FMR LLC raised its holdings in Silgan by 87.7% during the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock valued at $329,619,000 after acquiring an additional 2,932,680 shares during the period. State Street Corp raised its holdings in Silgan by 0.6% during the third quarter. State Street Corp now owns 2,497,683 shares of the industrial products company’s stock valued at $131,128,000 after acquiring an additional 14,109 shares during the period. Geode Capital Management LLC raised its holdings in Silgan by 11.7% during the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock valued at $78,509,000 after acquiring an additional 157,160 shares during the period. Segall Bryant & Hamill LLC raised its holdings in Silgan by 0.9% during the third quarter. Segall Bryant & Hamill LLC now owns 1,278,560 shares of the industrial products company’s stock valued at $67,124,000 after acquiring an additional 11,655 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Silgan by 22.6% during the fourth quarter. Bank of New York Mellon Corp now owns 914,019 shares of the industrial products company’s stock valued at $47,575,000 after acquiring an additional 168,789 shares during the period. 70.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the transaction, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. The trade was a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert B. Lewis sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total value of $1,064,400.00. Following the transaction, the executive vice president now owns 152,133 shares of the company’s stock, valued at $8,096,518.26. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on SLGN shares. JPMorgan Chase & Co. raised their price target on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Robert W. Baird raised their price target on Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Bank of America raised their price target on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company raised their price objective on Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Raymond James raised their price objective on Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Silgan has a consensus rating of “Moderate Buy” and an average price target of $64.22.

Silgan Trading Up 1.3 %

Shares of Silgan stock opened at $54.28 on Monday. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.27 and a beta of 0.71. Silgan Holdings Inc. has a twelve month low of $41.14 and a twelve month high of $58.14. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $53.13 and a 200-day moving average price of $52.78.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. Equities research analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.20 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.80 annualized dividend and a yield of 1.47%. This is a positive change from Silgan’s previous quarterly dividend of $0.19. Silgan’s dividend payout ratio (DPR) is currently 29.46%.

About Silgan

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers a range of metal and plastic closures, and dispensing systems for food, beverage, health care, garden, home, personal care, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.