Chase Investment Counsel Corp Takes $2.73 Million Position in Silgan Holdings Inc. (NYSE:SLGN)

Chase Investment Counsel Corp bought a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 52,463 shares of the industrial products company’s stock, valued at approximately $2,730,000.

Other large investors have also recently made changes to their positions in the company. Bank of Jackson Hole Trust purchased a new position in shares of Silgan during the fourth quarter valued at approximately $59,000. Venturi Wealth Management LLC lifted its holdings in shares of Silgan by 220.4% during the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 963 shares during the last quarter. KBC Group NV lifted its holdings in shares of Silgan by 27.7% during the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 494 shares during the last quarter. GAMMA Investing LLC raised its holdings in Silgan by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock worth $137,000 after acquiring an additional 863 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Silgan in the 3rd quarter worth approximately $154,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SLGN. JPMorgan Chase & Co. boosted their price objective on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Robert W. Baird boosted their price objective on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Raymond James boosted their price objective on shares of Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Loop Capital boosted their price objective on shares of Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.22.

Silgan Trading Up 1.3 %

NYSE:SLGN opened at $54.28 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The company has a market cap of $5.80 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. The company has a 50 day simple moving average of $53.13 and a two-hundred day simple moving average of $52.73.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. Research analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.20 per share. This is an increase from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.47%. Silgan’s payout ratio is presently 29.46%.

Insider Activity

In other news, 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 sale, the chief executive officer now owns 227,332 shares of the company’s stock, valued at $12,441,880.36. The trade was a 35.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert B. Lewis sold 20,000 shares of the business’s stock in a transaction 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 directly owns 152,133 shares of the company’s stock, valued at approximately $8,096,518.26. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Silgan 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.