South Dakota Investment Council Acquires 8,900 Shares of Silgan Holdings Inc. (NYSE:SLGN)

South Dakota Investment Council grew its position in Silgan Holdings Inc. (NYSE:SLGN) by 130.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,700 shares of the industrial products company’s stock after acquiring an additional 8,900 shares during the quarter. South Dakota Investment Council’s holdings in Silgan were worth $710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in SLGN. Arizona State Retirement System increased its position in shares of Silgan by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 25,113 shares of the industrial products company’s stock valued at $1,083,000 after purchasing an additional 378 shares during the last quarter. Inspire Investing LLC increased its position in shares of Silgan by 6.2% during the 3rd quarter. Inspire Investing LLC now owns 7,112 shares of the industrial products company’s stock valued at $307,000 after purchasing an additional 414 shares during the last quarter. Paralel Advisors LLC increased its position in shares of Silgan by 1.3% during the 3rd quarter. Paralel Advisors LLC now owns 35,678 shares of the industrial products company’s stock valued at $1,538,000 after purchasing an additional 446 shares during the last quarter. Quent Capital LLC increased its position in shares of Silgan by 94.9% during the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 505 shares during the last quarter. Finally, Keybank National Association OH increased its position in shares of Silgan by 5.0% during the 3rd quarter. Keybank National Association OH now owns 11,190 shares of the industrial products company’s stock valued at $482,000 after purchasing an additional 528 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Silgan Price Performance

Shares of SLGN stock opened at $47.07 on Friday. Silgan Holdings Inc. has a twelve month low of $38.11 and a twelve month high of $52.43. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 2.58 and a beta of 0.68. The stock has a fifty day simple moving average of $45.88 and a two-hundred day simple moving average of $43.95. The company has a current ratio of 1.02, a quick ratio of 0.61 and a debt-to-equity ratio of 1.35.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.39 billion. Silgan had a return on equity of 20.29% and a net margin of 5.44%. On average, analysts predict that Silgan Holdings Inc. will post 3.67 EPS for the current fiscal year.

Silgan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.19 per share. This is a positive change from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 13th. Silgan’s dividend payout ratio is currently 25.50%.

Analyst Ratings Changes

A number of research firms recently issued reports on SLGN. Citigroup boosted their price objective on Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Wells Fargo & Company boosted their price objective on Silgan from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Royal Bank of Canada boosted their price objective on Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Raymond James boosted their price objective on Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.13.

Insider Activity at Silgan

In related news, VP B Frederik Prinzen sold 4,684 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $43.89, for a total transaction of $205,580.76. Following the transaction, the vice president now directly owns 8,613 shares of the company’s stock, valued at approximately $378,024.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.08% of the stock is currently owned by corporate insiders.

Silgan Company 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.