Ausbil Investment Management Ltd Acquires 7,110 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Ausbil Investment Management Ltd lifted its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 56.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,689 shares of the industrial products company's stock after buying 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.

Several other hedge funds have also recently modified their holdings of SLGN. Millennium Management LLC grew its holdings in Silgan by 764.7% during 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 buying an additional 895,528 shares in the last quarter. FMR LLC grew its holdings 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 purchasing an additional 767,944 shares in the last quarter. Norges Bank bought a new stake in Silgan in the fourth quarter worth $38,680,000. JPMorgan Chase & Co. lifted its position in Silgan by 12.8% during the fourth 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 during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Silgan by 87.4% in the 4th 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 buying an additional 584,840 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company's stock.

Insider Buying and Selling at Silgan

In other news, EVP Robert B. Lewis sold 10,000 shares of the business'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 sale, the executive vice president now directly owns 153,378 shares of the company's stock, valued at $8,576,897.76. The trade was a 6.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP B Frederik Prinzen sold 2,378 shares of the company's 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 completion of 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 disclosure for this sale can be found here. 1.13% of the stock is owned by insiders.

Silgan Trading Up 0.4%

NYSE SLGN opened at $53.92 on Monday. The company's 50-day simple moving average is $53.42 and its two-hundred day simple moving average is $52.57. Silgan Holdings Inc. has a one year low of $41.14 and a one year high of $58.14. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.21 and a beta of 0.76. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.67 and a current ratio of 1.14.

Silgan (NYSE:SLGN - Get Free Report) last announced its 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. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.48 billion. Silgan had a return on equity of 20.00% and a net margin of 4.82%. The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. Equities analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.48%. Silgan's dividend payout ratio (DPR) is 29.74%.

Wall Street Analyst Weigh In

SLGN has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target for the company in a research report on Thursday, May 1st. Citigroup increased their price target on Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Truist Financial dropped their price objective on shares of Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Raymond James Financial upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and lowered their target price for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Silgan currently has a consensus rating of "Buy" and an average target price 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.

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