Alpine Global Management LLC Buys New Shares in Silgan Holdings Inc. (NYSE:SLGN)

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

A number of other large investors also recently modified their holdings of SLGN. GeoWealth Management LLC purchased a new position in Silgan in the 4th quarter worth approximately $56,000. Bank of Jackson Hole Trust purchased a new position in Silgan in the 4th quarter worth approximately $59,000. Smartleaf Asset Management LLC increased its stake in Silgan by 1,229.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock worth $107,000 after purchasing an additional 1,906 shares during the period. KBC Group NV increased its stake in Silgan by 52.5% in the 4th quarter. KBC Group NV now owns 3,473 shares of the industrial products company's stock worth $181,000 after purchasing an additional 1,196 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in Silgan by 153.2% in the 4th 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 period. 70.25% of the stock is owned by hedge funds and other institutional investors.

Silgan Stock Up 2.4%

Silgan stock traded up $1.28 during mid-day trading on Tuesday, hitting $55.73. The company had a trading volume of 549,491 shares, compared to its average volume of 664,907. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. The stock's 50 day moving average price is $51.47 and its two-hundred day moving average price is $52.76. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The company has a market capitalization of $5.96 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74.

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. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. As a group, sell-side analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 dividend on an annualized basis and a yield of 1.44%. Silgan's dividend payout ratio (DPR) is 29.74%.

Insider Activity at Silgan

In other news, VP B Frederik Prinzen sold 2,378 shares of the stock in a transaction that occurred 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 $74,589. This represents a 63.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert B. Lewis sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was 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 in the company, valued at approximately $8,576,897.76. The trade was a 6.12% decrease in their position. The disclosure for this sale can be found here. 1.13% of the stock is owned by insiders.

Analyst Ratings Changes

SLGN has been the topic of several research analyst reports. Loop Capital boosted their target price on Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Royal Bank of Canada boosted their target price on Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Raymond James raised Silgan from an "outperform" rating to a "strong-buy" rating and reduced their target price for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Truist Financial reduced their price target on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Robert W. Baird upped their price target on Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $63.11.

Silgan 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.