Quantbot Technologies LP Invests $996,000 in Silgan Holdings Inc. (NYSE:SLGN)

Quantbot Technologies LP acquired a new position in Silgan Holdings Inc. (NYSE:SLGN) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 20,505 shares of the industrial products company’s stock, valued at approximately $996,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SLGN. Retirement Systems of Alabama raised its position in shares of Silgan by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 101,639 shares of the industrial products company’s stock valued at $4,936,000 after purchasing an additional 268 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Silgan by 4.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,686 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 275 shares during the period. Verdence Capital Advisors LLC grew its position in shares of Silgan by 4.6% in the first quarter. Verdence Capital Advisors LLC now owns 7,013 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 306 shares during the period. Treasurer of the State of North Carolina lifted its position in shares of Silgan by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 37,043 shares of the industrial products company’s stock valued at $1,676,000 after acquiring an additional 360 shares in the last quarter. Finally, State of Michigan Retirement System grew its holdings in shares of Silgan by 2.6% during the first quarter. State of Michigan Retirement System now owns 19,900 shares of the industrial products company’s stock worth $966,000 after buying an additional 500 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on Silgan from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Citigroup upgraded shares of Silgan from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Silgan presently has an average rating of “Moderate Buy” and an average target price of $52.00.

Silgan Stock Performance

NYSE:SLGN opened at $44.28 on Monday. The business’s fifty day moving average price is $45.10 and its 200 day moving average price is $45.22. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $49.72. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.04 and a quick ratio of 0.62. The firm has a market capitalization of $4.73 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.49 and a beta of 0.67.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, May 1st. The industrial products company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The business’s revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the business earned $0.78 EPS. On average, sell-side analysts anticipate that Silgan Holdings Inc. will post 3.66 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.19 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.72%. Silgan’s payout ratio is 26.67%.

Insider Activity

In related news, SVP Jay A. Martin sold 21,330 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $46.73, for a total value of $996,750.90. Following the sale, the senior vice president now directly owns 165,989 shares in the company, valued at approximately $7,756,665.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Robert B. Lewis sold 30,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $47.08, for a total transaction of $1,412,400.00. Following the sale, the executive vice president now owns 172,133 shares in the company, valued at $8,104,021.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jay A. Martin sold 21,330 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $46.73, for a total value of $996,750.90. Following the completion of the sale, the senior vice president now directly owns 165,989 shares in the company, valued at $7,756,665.97. The disclosure for this sale can be found here. Insiders sold a total of 59,651 shares of company stock worth $2,804,226 over the last 90 days. 1.39% of the stock is currently owned by corporate insiders.

Silgan Profile

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.