Silgan Holdings Inc. (NYSE:SLGN) Holdings Lifted by Rhumbline Advisers

Rhumbline Advisers grew its position in Silgan Holdings Inc. (NYSE:SLGN) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 295,709 shares of the industrial products company’s stock after purchasing an additional 2,463 shares during the period. Rhumbline Advisers owned approximately 0.28% of Silgan worth $15,392,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Silgan by 7.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company’s stock valued at $290,000 after acquiring an additional 361 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in Silgan by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock worth $390,000 after buying an additional 388 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Silgan by 5.7% during the third quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company’s stock worth $441,000 after buying an additional 456 shares in the last quarter. KBC Group NV boosted its holdings in Silgan by 27.7% during the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after buying an additional 494 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Silgan by 0.3% during the third quarter. State of Alaska Department of Revenue now owns 248,943 shares of the industrial products company’s stock worth $13,069,000 after buying an additional 635 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Silgan Stock Down 2.0 %

Silgan stock opened at $54.41 on Friday. The company has a market capitalization of $5.81 billion, a P/E ratio of 21.09, a P/E/G ratio of 1.27 and a beta of 0.71. The firm’s fifty day simple moving average is $52.96 and its 200-day simple moving average is $52.56. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. Sell-side analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SLGN shares. Wells Fargo & Company raised their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Robert W. Baird upped their price target on shares of Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Raymond James upped their price target on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Loop Capital increased their target price on shares of Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.22.

Insider Activity at Silgan

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 152,133 shares in the company, valued at $8,096,518.26. This trade represents a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.39% of the stock is currently owned by company 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.