Ausbil Investment Management Ltd Buys 6,091 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Ausbil Investment Management Ltd grew its stake in Silgan Holdings Inc. (NYSE:SLGN) by 93.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,579 shares of the industrial products company’s stock after purchasing an additional 6,091 shares during the quarter. Ausbil Investment Management Ltd’s holdings in Silgan were worth $642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SLGN. FMR LLC lifted its position in Silgan by 87.7% during the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock valued at $329,619,000 after buying an additional 2,932,680 shares during the period. Weiss Asset Management LP bought a new position in shares of Silgan in the 3rd quarter worth about $11,422,000. Two Sigma Advisers LP lifted its position in Silgan by 202.3% during the 3rd quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company’s stock valued at $13,015,000 after acquiring an additional 165,900 shares during the period. Geode Capital Management LLC boosted its stake in Silgan by 11.7% during the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock worth $78,509,000 after acquiring an additional 157,160 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Silgan by 62.5% in the second quarter. Millennium Management LLC now owns 322,482 shares of the industrial products company’s stock worth $13,651,000 after purchasing an additional 124,020 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SLGN. Robert W. Baird lifted their target price on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank of Canada boosted their price objective on shares of Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday. Raymond James upped their price objective on Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company lifted their target price on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Silgan currently has an average rating of “Moderate Buy” and an average price target of $64.22.

Silgan Stock Down 1.9 %

NYSE SLGN opened at $55.10 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.75 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 stock’s 50 day moving average is $53.64 and its 200 day moving average is $51.87. The stock has a market cap of $5.88 billion, a PE ratio of 21.36, a P/E/G ratio of 1.34 and a beta of 0.71.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.77%. Research analysts predict that Silgan Holdings Inc. will post 4.09 EPS for the current fiscal year.

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.19 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.38%. Silgan’s payout ratio is currently 29.46%.

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.