Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Versor Investments LP

Versor Investments LP trimmed its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 18.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,800 shares of the industrial products company’s stock after selling 1,096 shares during the quarter. Versor Investments LP’s holdings in Silgan were worth $203,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. New York Life Investment Management LLC purchased a new position in Silgan in the 4th quarter valued at $402,000. Natixis Advisors L.P. grew its position in Silgan by 10.2% in the 4th quarter. Natixis Advisors L.P. now owns 34,536 shares of the industrial products company’s stock valued at $1,562,000 after buying an additional 3,205 shares during the last quarter. Principal Securities Inc. purchased a new position in Silgan in the 4th quarter valued at $30,000. AGF Management Ltd. grew its position in Silgan by 1.6% in the 4th quarter. AGF Management Ltd. now owns 68,101 shares of the industrial products company’s stock valued at $3,082,000 after buying an additional 1,061 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in Silgan by 9.9% in the 4th quarter. QRG Capital Management Inc. now owns 12,199 shares of the industrial products company’s stock valued at $552,000 after buying an additional 1,094 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLGN has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Robert W. Baird boosted their target price on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Citigroup boosted their target price on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. Finally, Wells Fargo & Company boosted their target price on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Silgan presently has an average rating of “Moderate Buy” and an average target price of $57.00.

Insider Transactions at Silgan

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.39% of the company’s stock.

Silgan Trading Up 0.3 %

NYSE SLGN opened at $50.48 on Friday. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $52.84. The company has a 50-day moving average of $47.85 and a 200-day moving average of $46.60. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64. The company has a market cap of $5.39 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.48 and a beta of 0.67.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the company posted $0.83 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts predict that Silgan Holdings Inc. will post 3.66 earnings per share for the current year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, September 3rd. Silgan’s payout ratio is currently 26.67%.

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.