Brevan Howard Capital Management LP Raises Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Brevan Howard Capital Management LP lifted its position in Silgan Holdings Inc. (NYSE:SLGN) by 95.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,817 shares of the industrial products company’s stock after purchasing an additional 13,621 shares during the period. Brevan Howard Capital Management LP’s holdings in Silgan were worth $1,448,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SLGN. Ritholtz Wealth Management purchased a new stake in shares of Silgan in the 4th quarter worth $620,000. Assenagon Asset Management S.A. bought a new stake in shares of Silgan in the fourth quarter valued at about $1,142,000. Janney Montgomery Scott LLC purchased a new stake in Silgan in the fourth quarter worth about $2,563,000. Fort Washington Investment Advisors Inc. OH grew its holdings in Silgan by 5.2% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 385,710 shares of the industrial products company’s stock worth $20,076,000 after acquiring an additional 19,080 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Silgan during the 4th quarter valued at about $873,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Insider Activity

In other news, EVP Robert B. Lewis sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the sale, the executive vice president now owns 152,133 shares of the company’s stock, valued at $8,096,518.26. This trade represents a 11.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the transaction, the chief executive officer now owns 227,332 shares of the company’s stock, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Silgan Stock Down 0.7 %

SLGN stock opened at $54.16 on Wednesday. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The firm has a 50 day moving average of $50.44 and a 200 day moving average of $52.50. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $5.79 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.48%. Silgan’s payout ratio is 29.74%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SLGN shares. Truist Financial lowered their price target on shares of Silgan from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company upped their target price on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Loop Capital lifted their price target on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. upgraded Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price objective for the company in a research note on Thursday, May 1st. Finally, Raymond James upgraded Silgan from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $62.78.

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.