William Blair Investment Management LLC Buys 567 Shares of Silgan Holdings Inc. (NYSE:SLGN)

William Blair Investment Management LLC lifted its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 12.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,229 shares of the industrial products company’s stock after purchasing an additional 567 shares during the quarter. William Blair Investment Management LLC’s holdings in Silgan were worth $254,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. TFO Wealth Partners LLC grew its holdings in Silgan by 10,540.0% during the 4th quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock valued at $226,000 after buying an additional 527 shares in the last quarter. Principal Securities Inc. purchased a new position in Silgan during the fourth quarter valued at approximately $30,000. Quent Capital LLC increased its holdings in Silgan by 94.9% during the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 505 shares during the period. Blue Trust Inc. increased its holdings in Silgan by 4,440.4% during the 4th quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 2,087 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in Silgan in the 1st quarter worth approximately $194,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Insider Transactions at Silgan

In other Silgan news, VP B Frederik Prinzen sold 4,093 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $47.84, for a total transaction of $195,809.12. Following the completion of the sale, the vice president now directly owns 4,520 shares in the company, valued at $216,236.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Robert B. Lewis sold 30,000 shares of Silgan stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.08, for a total value of $1,412,400.00. Following the transaction, the executive vice president now directly owns 172,133 shares of the company’s stock, valued at $8,104,021.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP B Frederik Prinzen sold 4,093 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.84, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 59,651 shares of company stock worth $2,804,226. 1.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SLGN shares. Wells Fargo & Company decreased their price target on shares of Silgan from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Citigroup upgraded Silgan from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $52.00.

Silgan Price Performance

Shares of NYSE SLGN traded up $0.16 during mid-day trading on Wednesday, reaching $45.78. 625,420 shares of the company were exchanged, compared to its average volume of 576,319. Silgan Holdings Inc. has a 52 week low of $38.11 and a 52 week high of $49.72. The company’s 50 day moving average price is $45.02 and its 200 day moving average price is $45.22. The stock has a market capitalization of $4.89 billion, a PE ratio of 16.06, a PEG ratio of 1.50 and a beta of 0.67. The company has a quick ratio of 0.62, a current ratio of 1.04 and a debt-to-equity ratio of 1.33.

Silgan (NYSE:SLGN) last released 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. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.37 billion. Silgan had a return on equity of 19.26% and a net margin of 5.25%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.78 earnings per share. Sell-side analysts forecast that Silgan Holdings Inc. will post 3.66 earnings per share for the current fiscal year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Monday, June 3rd. Silgan’s dividend payout ratio (DPR) 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.