GAMMA Investing LLC Has $5.66 Million Stake in Silgan Holdings Inc. (NYSE:SLGN)

GAMMA Investing LLC boosted its position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 4,090.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,624 shares of the industrial products company's stock after buying an additional 107,984 shares during the quarter. GAMMA Investing LLC owned approximately 0.10% of Silgan worth $5,655,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of Silgan during the fourth quarter worth $873,000. Smartleaf Asset Management LLC raised its stake in Silgan by 1,229.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock worth $107,000 after acquiring an additional 1,906 shares during the period. Atria Investments Inc raised its stake in Silgan by 9.2% during the fourth quarter. Atria Investments Inc now owns 5,067 shares of the industrial products company's stock worth $264,000 after acquiring an additional 427 shares during the period. Barclays PLC boosted its stake in Silgan by 23.6% in the third quarter. Barclays PLC now owns 57,327 shares of the industrial products company's stock valued at $3,010,000 after acquiring an additional 10,936 shares during the period. Finally, Sanctuary Advisors LLC boosted its position in Silgan by 7.4% during the 4th quarter. Sanctuary Advisors LLC now owns 7,715 shares of the industrial products company's stock valued at $433,000 after purchasing an additional 533 shares during the period. Institutional investors and hedge funds own 70.25% of the company's stock.

Insider Activity

In related news, EVP Robert B. Lewis sold 10,000 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.92, for a total transaction of $559,200.00. Following the transaction, the executive vice president now directly owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP B Frederik Prinzen sold 2,378 shares of the stock in a transaction dated Tuesday, May 6th. The stock was 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 now directly owns 1,380 shares of the company's stock, valued at approximately $74,589. This 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 company insiders.

Silgan Price Performance

Silgan stock traded down $0.34 during midday trading on Wednesday, hitting $54.56. The company's stock had a trading volume of 642,438 shares, compared to its average volume of 665,320. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The stock's 50-day moving average price is $52.32 and its 200-day moving average price is $52.76. The company has a market capitalization of $5.84 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 1.27 and a beta of 0.76.

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, topping the consensus estimate of $0.78 by $0.04. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company posted $0.69 EPS. The company's revenue was up 11.4% compared to the same quarter last year. Analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Monday, June 2nd. Silgan's dividend payout ratio (DPR) is currently 29.74%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SLGN shares. Truist Financial reduced their target price 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. Citigroup lifted their target price on Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. 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 report on Thursday, May 1st. Finally, Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the stock from $65.00 to $60.00 in a 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus 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.