Ausbil Investment Management Ltd Raises Stake in Silgan Holdings Inc. (NYSE:SLGN)

Ausbil Investment Management Ltd increased its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 56.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,689 shares of the industrial products company's stock after purchasing an additional 7,110 shares during the quarter. Ausbil Investment Management Ltd's holdings in Silgan were worth $1,007,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SLGN. CX Institutional bought a new stake in shares of Silgan in the 1st quarter valued at about $42,000. UMB Bank n.a. lifted its stake in shares of Silgan by 254.9% in the first quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock worth $46,000 after acquiring an additional 645 shares during the period. GeoWealth Management LLC bought a new stake in Silgan in the fourth quarter valued at approximately $56,000. Continuum Advisory LLC increased its position in Silgan by 2,754.3% during the 1st quarter. Continuum Advisory LLC now owns 1,313 shares of the industrial products company's stock valued at $67,000 after purchasing an additional 1,267 shares during the period. Finally, 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. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Silgan Stock Up 0.6%

Shares of SLGN traded up $0.32 on Thursday, reaching $54.88. The company's stock had a trading volume of 385,473 shares, compared to its average volume of 669,170. Silgan Holdings Inc. has a twelve month low of $41.14 and a twelve month high of $58.14. The stock has a market capitalization of $5.87 billion, a PE ratio of 20.40, a PEG ratio of 1.22 and a beta of 0.76. The company has a current ratio of 1.14, a quick ratio of 0.67 and a debt-to-equity ratio of 1.67. The firm has a fifty day moving average of $53.85 and a 200-day moving average of $52.59.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. Silgan had a return on equity of 20.00% and a net margin of 4.82%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The company's quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.20 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.46%. Silgan's payout ratio is 29.74%.

Insider Activity

In related news, VP B Frederik Prinzen sold 2,378 shares of the business's stock in a transaction dated 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 now directly owns 1,380 shares in the company, valued at approximately $74,589. The trade was a 63.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction dated 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 sale, the executive vice president now 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 position. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SLGN shares. Citigroup boosted their price target on shares of Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. upgraded shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price on the stock in a report on Thursday, May 1st. Raymond James Financial raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and cut their price target for the company from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Finally, Truist Financial lowered their price objective 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 research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Silgan currently has an average rating of "Buy" and an average price target 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.