Silgan Holdings Inc. (NYSE:SLGN) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 38.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,088 shares of the industrial products company's stock after purchasing an additional 8,600 shares during the quarter. Handelsbanken Fonder AB's holdings in Silgan were worth $1,589,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. UMB Bank n.a. boosted its stake in shares of Silgan by 254.9% during the 1st quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock worth $46,000 after acquiring an additional 645 shares during the period. GeoWealth Management LLC bought a new stake in Silgan in the 4th quarter valued at $56,000. Bank of Jackson Hole Trust bought a new stake in Silgan in the 4th quarter valued at $59,000. Smartleaf Asset Management LLC boosted 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 purchasing an additional 1,906 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake 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 purchasing an additional 2,145 shares during the period. Institutional investors and hedge funds own 70.25% of the company's stock.

Silgan Stock Down 1.8%

Shares of Silgan stock traded down $1.02 during trading on Friday, reaching $54.13. 559,980 shares of the company traded hands, compared to its average volume of 663,462. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14. The company has a 50 day moving average price of $52.81 and a 200-day moving average price of $52.71. The firm has a market capitalization of $5.79 billion, a PE ratio of 20.98, a P/E/G 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. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The business's revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. As a group, equities research analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.48%. Silgan's dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Raymond James upgraded Silgan from an "outperform" rating to a "strong-buy" rating and reduced their price target for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. upgraded shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price for the company in a research report on Thursday, May 1st. Truist Financial dropped their target price 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. Finally, 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 report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $63.11.

Insider Activity

In other Silgan news, VP B Frederik Prinzen sold 2,378 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total transaction of $128,530.90. Following the completion of the transaction, the vice president now owns 1,380 shares in the company, valued at $74,589. This trade 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 is available through this link. Also, EVP Robert B. Lewis sold 10,000 shares of Silgan stock in a transaction 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 sale, the executive vice president now owns 153,378 shares of the company's stock, valued at approximately $8,576,897.76. This trade represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.13% of the company's stock.

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.