Inspire Advisors LLC Makes New Investment in Silgan Holdings Inc. (NYSE:SLGN)

Inspire Advisors LLC purchased a new stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,561 shares of the industrial products company's stock, valued at approximately $233,000.

Several other large investors have also modified their holdings of the business. Millennium Management LLC increased its holdings in shares of Silgan by 764.7% in the 4th quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company's stock valued at $52,708,000 after acquiring an additional 895,528 shares during the last quarter. FMR LLC lifted its holdings in 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 acquiring an additional 767,944 shares during the period. Norges Bank acquired a new position in Silgan during the fourth quarter worth $38,680,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Silgan by 87.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,253,727 shares of the industrial products company's stock worth $65,257,000 after acquiring an additional 584,840 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Silgan by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock valued at $464,886,000 after purchasing an additional 455,381 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Insider Activity

In related news, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the completion of the transaction, the executive vice president owned 153,378 shares of the company's stock, valued at $8,576,897.76. This represents a 6.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP B Frederik Prinzen sold 2,378 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total transaction of $128,530.90. Following the transaction, the vice president directly owned 1,380 shares of the company's stock, valued at $74,589. The trade was a 63.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Raymond James Financial lowered their price target on Silgan from $64.00 to $60.00 and set a "strong-buy" rating for the company in a research report on Thursday. Citigroup upped their price objective on Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Royal Bank Of Canada decreased their price objective on Silgan from $64.00 to $57.00 and set an "outperform" rating for the company in a report on Friday. Truist Financial increased their target price on Silgan from $62.00 to $67.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Wells Fargo & Company increased their price objective on Silgan from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.44.

Silgan Trading Down 1.7%

Shares of SLGN stock traded down $0.81 on Friday, hitting $45.72. The stock had a trading volume of 2,611,167 shares, compared to its average volume of 783,682. Silgan Holdings Inc. has a twelve month low of $44.37 and a twelve month high of $58.14. The firm has a market cap of $4.89 billion, a P/E ratio of 16.27, a PEG ratio of 1.11 and a beta of 0.75. The company has a current ratio of 0.48, a quick ratio of 0.67 and a debt-to-equity ratio of 1.67. The company has a fifty day moving average price of $54.63 and a two-hundred day moving average price of $53.00.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.02). The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Silgan had a net margin of 4.90% and a return on equity of 19.98%. Silgan's quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $0.88 EPS. As a group, analysts forecast that Silgan Holdings Inc. will post 4.11 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 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.7%. Silgan's payout ratio is 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.