Crestline Management LP Takes Position in Silgan Holdings Inc. (NYSE:SLGN)

Crestline Management LP purchased a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,078 shares of the industrial products company's stock, valued at approximately $785,000.

Several other large investors have also added to or reduced their stakes in the company. GeoWealth Management LLC purchased a new stake in Silgan during the fourth quarter valued at $56,000. Bank of Jackson Hole Trust purchased a new stake in Silgan in the fourth quarter worth about $59,000. Smartleaf Asset Management LLC increased its position in 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 purchasing an additional 1,906 shares during the period. GAMMA Investing LLC increased its position in Silgan by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company's stock valued at $137,000 after purchasing an additional 863 shares during the period. Finally, KBC Group NV increased its position in 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 purchasing an additional 1,196 shares during the period. Hedge funds and other institutional investors own 70.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and cut their price objective for the stock from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Citigroup lifted their price objective on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Loop Capital boosted their target price on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. upgraded shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price for the company in a research note on Thursday, May 1st. Finally, Truist Financial reduced their price objective 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. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $63.11.

Silgan Trading Up 0.7%

Silgan stock traded up $0.37 during midday trading on Thursday, hitting $54.75. 135,420 shares of the stock were exchanged, compared to its average volume of 662,964. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 1.27 and a beta of 0.74. The stock's 50-day simple moving average is $50.63 and its 200 day simple moving average is $52.62. 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 (NYSE:SLGN - Get Free Report) last announced its quarterly 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. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period last year, the business earned $0.69 earnings per share. The business's revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Monday, June 2nd. Silgan's dividend payout ratio (DPR) is currently 29.74%.

Insider Activity at Silgan

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

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.