Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 4,090.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 110,624 shares of the industrial products company's stock after purchasing an additional 107,984 shares during the quarter. GAMMA Investing LLC owned about 0.10% of Silgan worth $5,655,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC acquired a new stake in Silgan in the fourth quarter valued at approximately $56,000. Bank of Jackson Hole Trust purchased a new position in shares of Silgan during the fourth quarter worth approximately $59,000. Smartleaf Asset Management LLC grew its position 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 buying an additional 1,906 shares during the last quarter. Venturi Wealth Management LLC grew its position 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 valued at $185,000 after buying an additional 2,145 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its position in Silgan by 5.9% in the 1st quarter. Central Pacific Bank Trust Division now owns 3,760 shares of the industrial products company's stock valued at $192,000 after buying an additional 210 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Insider Buying and Selling at Silgan

In other news, VP B Frederik Prinzen sold 2,378 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total transaction of $128,530.90. Following the completion of the sale, the vice president now owns 1,380 shares in the company, valued at approximately $74,589. The trade was a 63.28% decrease in their position. The sale 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 business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $55.92, for a total value of $559,200.00. Following the sale, the executive vice president now owns 153,378 shares of the company's stock, valued at $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 company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on SLGN shares. 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 report on Tuesday, April 22nd. Truist Financial cut their price target on Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Citigroup boosted their target price on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price for the company in a research note on Thursday, May 1st. One investment 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 stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $63.11.

Silgan Trading Down 1.8%

SLGN traded down $1.02 during midday trading on Friday, hitting $54.13. The company's stock had a trading volume of 559,980 shares, compared to its average volume of 662,816. 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 firm has a market cap of $5.79 billion, a P/E ratio of 20.98, a PEG ratio of 1.27 and a beta of 0.76. The firm has a 50-day moving average price of $52.63 and a two-hundred day moving average price of $52.76. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.48 billion. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The firm's revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. On average, research analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Announces Dividend

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

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.