Silgan Holdings Inc. (NYSE:SLGN) Stock Holdings Lifted by Comerica Bank

Comerica Bank increased its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 22.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,809 shares of the industrial products company's stock after buying an additional 8,181 shares during the period. Comerica Bank's holdings in Silgan were worth $2,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Silgan by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock valued at $464,886,000 after buying an additional 455,381 shares in the last quarter. FMR LLC boosted its stake in shares of Silgan by 12.2% in the fourth quarter. FMR LLC now owns 7,046,400 shares of the industrial products company's stock valued at $366,765,000 after buying an additional 767,944 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Silgan by 12.8% in the 4th quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock valued at $301,670,000 after purchasing an additional 656,923 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Silgan by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,062,013 shares of the industrial products company's stock valued at $159,377,000 after buying an additional 11,836 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Silgan by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,140,028 shares of the industrial products company's stock worth $111,388,000 after purchasing an additional 9,532 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SLGN shares. JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective for the company in a research report on Thursday, May 1st. Raymond James upgraded 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 report on Tuesday, April 22nd. Loop Capital upped their price target on shares of Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Truist Financial lowered 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. Finally, Citigroup boosted their price target on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday. 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 an average price target of $63.11.

Insider Activity at Silgan

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the completion of the sale, the executive vice president now directly owns 152,133 shares in the company, valued at $8,096,518.26. This represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the transaction, the vice president now owns 1,380 shares in the company, valued at approximately $74,589. This trade represents a 63.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,378 shares of company stock worth $8,034,181 in the last three months. 1.39% of the stock is owned by company insiders.

Silgan Stock Performance

Shares of NYSE SLGN traded down $0.17 during mid-day trading on Friday, hitting $53.64. The company had a trading volume of 664,782 shares, compared to its average volume of 664,189. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 1.27 and a beta of 0.74. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. The firm's 50 day simple moving average is $50.50 and its two-hundred day simple moving average is $52.57.

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 (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. Silgan's dividend payout ratio is presently 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.