PharVision Advisers LLC Makes New Investment in Silgan Holdings Inc. (NYSE:SLGN)

PharVision Advisers LLC bought a new stake in Silgan Holdings Inc. (NYSE:SLGN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,534 shares of the industrial products company’s stock, valued at approximately $392,000.

A number of other institutional investors have also recently made changes to their positions in SLGN. GeoWealth Management LLC purchased a new stake in Silgan during the fourth quarter valued at about $56,000. Bank of Jackson Hole Trust bought a new stake in shares of Silgan in the fourth quarter valued at approximately $59,000. Smartleaf Asset Management LLC lifted its stake in shares of Silgan by 1,229.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock valued at $107,000 after buying an additional 1,906 shares in the last quarter. KBC Group NV lifted its stake in shares of Silgan by 52.5% during the 4th quarter. KBC Group NV now owns 3,473 shares of the industrial products company’s stock valued at $181,000 after buying an additional 1,196 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Silgan by 153.2% in the 4th quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company’s stock worth $185,000 after buying an additional 2,145 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on SLGN. Royal Bank of Canada increased their target price on Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Raymond James raised Silgan from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. Wells Fargo & Company lifted their target price on Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Citigroup increased their price target on shares of Silgan from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised shares of 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. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Silgan currently has a consensus rating of “Buy” and a consensus target price of $63.11.

Insider Activity at Silgan

In other news, CEO Adam J. Greenlee sold 125,000 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total value 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 $12,441,880.36. This represents a 35.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total value of $128,530.90. Following the completion of the sale, the vice president now directly owns 1,380 shares in the company, valued at approximately $74,589. The trade was a 63.28% decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by insiders.

Silgan Stock Performance

Shares of SLGN stock opened at $56.09 on Wednesday. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.27 and a beta of 0.74. The stock has a fifty day moving average of $51.07 and a 200 day moving average of $52.73. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN) last announced its earnings results 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. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, research analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, June 2nd. Silgan’s dividend payout ratio (DPR) is currently 29.74%.

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.