Silgan Holdings Inc. (NYSE:SLGN) Holdings Raised by Drake & Associates LLC

Drake & Associates LLC grew its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 32.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,426 shares of the industrial products company's stock after purchasing an additional 7,956 shares during the period. Drake & Associates LLC's holdings in Silgan were worth $1,658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Leeward Investments LLC MA raised its holdings in shares of Silgan by 40.1% during the first quarter. Leeward Investments LLC MA now owns 224,517 shares of the industrial products company's stock worth $11,477,000 after purchasing an additional 64,300 shares during the period. Principal Financial Group Inc. grew its position in shares of Silgan by 0.3% during the first quarter. Principal Financial Group Inc. now owns 186,827 shares of the industrial products company's stock worth $9,551,000 after acquiring an additional 648 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Silgan by 4.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,595,520 shares of the industrial products company's stock worth $133,150,000 after acquiring an additional 115,878 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Silgan during the first quarter worth about $51,000. Finally, GHP Investment Advisors Inc. grew its position in shares of Silgan by 0.8% during the first quarter. GHP Investment Advisors Inc. now owns 123,252 shares of the industrial products company's stock worth $6,301,000 after acquiring an additional 1,009 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions 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 completion of the sale, the vice president directly owned 1,380 shares of the company's stock, valued at $74,589. This represents 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 company's stock in a transaction that occurred 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 owned 153,378 shares in the company, valued at approximately $8,576,897.76. This 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.

Silgan Price Performance

SLGN traded down $0.09 on Friday, reaching $56.67. The company had a trading volume of 338,154 shares, compared to its average volume of 666,739. The company has a current ratio of 1.14, a quick ratio of 0.67 and a debt-to-equity ratio of 1.67. Silgan Holdings Inc. has a one year low of $41.85 and a one year high of $58.14. The company has a market capitalization of $6.06 billion, a P/E ratio of 21.07, a PEG ratio of 1.27 and a beta of 0.75. The company has a fifty day moving average of $54.48 and a 200-day moving average of $52.64.

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

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Monday, June 2nd. Silgan's dividend payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SLGN shares. Raymond James Financial upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and lowered their price target for the stock from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Truist Financial lowered their price target on shares of Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. upgraded shares of 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. Finally, Citigroup increased their target price on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus 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.