Drake & Associates LLC Has $1.66 Million Stake in Silgan Holdings Inc. (NYSE:SLGN)

Drake & Associates LLC increased its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 32.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SLGN. Proficio Capital Partners LLC bought a new stake in Silgan in the 4th quarter valued at approximately $873,000. Smartleaf Asset Management LLC lifted 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 valued at $107,000 after acquiring an additional 1,906 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Silgan by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 921,651 shares of the industrial products company's stock valued at $47,972,000 after acquiring an additional 106,183 shares in the last quarter. Keybank National Association OH lifted its stake in Silgan by 3.4% in the 4th quarter. Keybank National Association OH now owns 12,678 shares of the industrial products company's stock valued at $660,000 after acquiring an additional 411 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of Silgan by 9.2% during the 4th quarter. Atria Investments Inc now owns 5,067 shares of the industrial products company's stock worth $264,000 after purchasing an additional 427 shares during the last quarter. Institutional investors own 70.25% of the company's stock.

Silgan Stock Performance

NYSE SLGN traded up $0.14 on Tuesday, reaching $56.64. The stock had a trading volume of 155,973 shares, compared to its average volume of 663,502. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.14 and a quick ratio of 0.67. The firm has a fifty day moving average of $54.57 and a two-hundred day moving average of $52.68. Silgan Holdings Inc. has a 1-year low of $41.85 and a 1-year high of $58.14. The company has a market cap of $6.06 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 1.27 and a beta of 0.75.

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

Silgan Announces Dividend

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

Insider Buying and Selling

In other Silgan news, EVP Robert B. Lewis sold 10,000 shares of the business'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 value of $559,200.00. Following the transaction, the executive vice president directly owned 153,378 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, VP B Frederik Prinzen sold 2,378 shares of the business's 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 transaction, the vice president directly owned 1,380 shares in the company, valued at approximately $74,589. This trade represents 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.

Analysts Set New Price Targets

SLGN has been the topic of several recent analyst reports. Citigroup boosted their price target on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Raymond James Financial raised 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 Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target on the stock in a research report on Thursday, May 1st. One research 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.com, the stock presently has an average rating of "Buy" and an average target price of $63.11.

About Silgan

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.