Alpine Global Management LLC Purchases New Position in Silgan Holdings Inc. (NYSE:SLGN)

Alpine Global Management LLC purchased a new position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,370 shares of the industrial products company's stock, valued at approximately $800,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GeoWealth Management LLC acquired a new stake in shares of Silgan in the 4th quarter valued at approximately $56,000. Bank of Jackson Hole Trust acquired a new position in shares of Silgan during the fourth quarter valued at about $59,000. Smartleaf Asset Management LLC increased its position in shares of Silgan by 1,229.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock worth $107,000 after acquiring an additional 1,906 shares in the last quarter. KBC Group NV lifted its position in shares of Silgan by 52.5% during the fourth 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 in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Silgan by 153.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company's stock worth $185,000 after purchasing an additional 2,145 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Insider Buying and Selling

In other news, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total value of $128,530.90. Following the sale, the vice president now directly owns 1,380 shares of the company's stock, valued at approximately $74,589. The trade was a 63.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert B. Lewis sold 10,000 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.92, for a total transaction of $559,200.00. Following the completion of the transaction, the executive vice president now directly owns 153,378 shares of the company's stock, valued at approximately $8,576,897.76. This trade represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.13% of the stock is owned by corporate insiders.

Silgan Trading Down 1.0%

Silgan stock traded down $0.55 during mid-day trading on Wednesday, hitting $55.16. The company's stock had a trading volume of 72,105 shares, compared to its average volume of 662,562. The business has a 50 day moving average price of $51.58 and a 200-day moving average price of $52.78. 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 $5.90 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth 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.

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

Silgan Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.45%. Silgan's payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Loop Capital lifted their price objective 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. Citigroup boosted their target price on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Royal Bank of Canada increased their price objective on Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target for the company in a report on Thursday, May 1st. Finally, Truist Financial reduced their target price on Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $63.11.

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.