Legal & General Group Plc Buys 8,900 Shares of Silgan Holdings Inc. (SLGN)

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Legal & General Group Plc boosted its stake in Silgan Holdings Inc. (NASDAQ:SLGN) by 8.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 115,427 shares of the industrial products company’s stock after buying an additional 8,900 shares during the quarter. Legal & General Group Plc owned approximately 0.10% of Silgan worth $2,727,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. American International Group Inc. lifted its stake in Silgan by 0.3% in the 4th quarter. American International Group Inc. now owns 157,986 shares of the industrial products company’s stock valued at $3,732,000 after buying an additional 425 shares in the last quarter. Empire Life Investments Inc. lifted its stake in Silgan by 3.1% in the 4th quarter. Empire Life Investments Inc. now owns 16,287 shares of the industrial products company’s stock valued at $385,000 after buying an additional 497 shares in the last quarter. Arizona State Retirement System lifted its stake in Silgan by 1.1% in the 4th quarter. Arizona State Retirement System now owns 55,576 shares of the industrial products company’s stock valued at $1,313,000 after buying an additional 595 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Silgan by 0.9% in the 4th quarter. New York State Common Retirement Fund now owns 137,700 shares of the industrial products company’s stock valued at $3,252,000 after buying an additional 1,200 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Silgan by 4.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 30,671 shares of the industrial products company’s stock valued at $724,000 after buying an additional 1,343 shares in the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

SLGN has been the topic of a number of recent research reports. TheStreet raised Silgan from a “c+” rating to a “b” rating in a research note on Tuesday, February 5th. Barclays upgraded Silgan from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. BidaskClub upgraded Silgan from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Zacks Investment Research downgraded Silgan from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 3rd. Finally, Citigroup upgraded Silgan from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $29.10.

Shares of SLGN opened at $30.07 on Wednesday. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.20 and a quick ratio of 0.61. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.82 and a beta of 0.83. Silgan Holdings Inc. has a fifty-two week low of $22.24 and a fifty-two week high of $30.41.

Silgan (NASDAQ:SLGN) last issued its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.02 billion. Silgan had a return on equity of 26.82% and a net margin of 5.03%. On average, analysts forecast that Silgan Holdings Inc. will post 2.17 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.46%. This is an increase from Silgan’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, March 15th. Silgan’s dividend payout ratio is presently 21.15%.

In other news, Director William C. Jennings sold 6,362 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $28.81, for a total transaction of $183,289.22. Following the completion of the sale, the director now directly owns 39,053 shares in the company, valued at approximately $1,125,116.93. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony J. Allott sold 63,490 shares of the company’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $28.49, for a total value of $1,808,830.10. Following the sale, the insider now owns 972,075 shares of the company’s stock, valued at $27,694,416.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,172 shares of company stock valued at $2,709,435. Insiders own 30.32% of the company’s stock.

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Silgan Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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Institutional Ownership by Quarter for Silgan (NASDAQ:SLGN)

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