MQS Management LLC Purchases Shares of 5,548 Silgan Holdings Inc. (NYSE:SLGN)

MQS Management LLC purchased a new stake 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 institutional investor purchased 5,548 shares of the industrial products company’s stock, valued at approximately $269,000.

A number of other hedge funds have also recently bought and sold shares of SLGN. Norges Bank bought a new position in shares of Silgan during the 4th quarter worth about $41,921,000. Wellington Management Group LLP lifted its holdings in shares of Silgan by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock worth $202,123,000 after acquiring an additional 246,813 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Silgan by 118.0% during the 1st quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company’s stock worth $9,755,000 after acquiring an additional 108,942 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Silgan by 4.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,417,003 shares of the industrial products company’s stock worth $117,370,000 after acquiring an additional 93,040 shares during the period. Finally, Eagle Asset Management Inc. bought a new position in shares of Silgan during the 4th quarter worth about $3,925,000. 70.25% of the stock is owned by institutional investors.

Insider Transactions at Silgan

In other news, VP B Frederik Prinzen sold 4,093 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.84, for a total value of $195,809.12. Following the sale, the vice president now owns 4,520 shares of the company’s stock, valued at $216,236.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Jay A. Martin sold 4,228 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.13, for a total transaction of $199,265.64. Following the transaction, the senior vice president now directly owns 144,161 shares in the company, valued at $6,794,307.93. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP B Frederik Prinzen sold 4,093 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $47.84, for a total transaction of $195,809.12. Following the transaction, the vice president now owns 4,520 shares in the company, valued at $216,236.80. The disclosure for this sale can be found here. Insiders have sold a total of 59,651 shares of company stock valued at $2,804,226 over the last 90 days. 1.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Silgan Stock Up 2.2 %

SLGN traded up $1.05 during trading on Friday, reaching $48.03. The company had a trading volume of 50,952 shares, compared to its average volume of 571,769. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.04 and a quick ratio of 0.62. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $49.72. The business’s fifty day moving average price is $44.86 and its 200 day moving average price is $45.27. The company has a market cap of $5.13 billion, a P/E ratio of 16.48, a PEG ratio of 1.56 and a beta of 0.67.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The business’s revenue was down 7.1% on a year-over-year basis. Equities analysts anticipate that Silgan Holdings Inc. will post 3.66 EPS for the current year.

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Monday, June 3rd. Silgan’s dividend payout ratio is presently 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.