Handelsbanken Fonder AB Grows Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Handelsbanken Fonder AB increased its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 38.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,088 shares of the industrial products company's stock after acquiring 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.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. lifted its holdings in shares of Silgan by 254.9% in the 1st quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock worth $46,000 after purchasing an additional 645 shares in the last quarter. GeoWealth Management LLC acquired a new position in Silgan during the fourth quarter worth $56,000. Bank of Jackson Hole Trust bought a new position in shares of Silgan in the fourth quarter valued at $59,000. Smartleaf Asset Management LLC grew its holdings in shares of 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 valued at $107,000 after buying an additional 1,906 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Silgan by 153.2% during the fourth 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. 70.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

SLGN has been the topic of several recent research reports. Citigroup raised their price target 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. Raymond James Financial upgraded Silgan from an "outperform" rating to a "strong-buy" rating and dropped their target price for the company from $65.00 to $60.00 in a report on Tuesday, April 22nd. JPMorgan Chase & Co. raised Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price on the stock in a research report on Thursday, May 1st. Finally, Truist Financial lowered their price target on Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $63.11.

Insiders Place Their Bets

In other news, VP B Frederik Prinzen sold 2,378 shares of the business's 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 directly owns 1,380 shares in the company, valued at $74,589. The trade was a 63.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction, the executive vice president now directly 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 corporate insiders.

Silgan Stock Performance

SLGN stock traded up $0.12 during midday trading on Wednesday, hitting $53.83. The company's stock had a trading volume of 217,150 shares, compared to its average volume of 662,810. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.22 and a beta of 0.76. The stock's 50-day moving average price is $53.10 and its 200 day moving average price is $52.66. The company has a quick ratio of 0.67, a current ratio of 1.14 and a debt-to-equity ratio of 1.67.

Silgan (NYSE:SLGN - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share 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 firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the previous year, the company earned $0.69 earnings per share. The company's quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts forecast 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 dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. Silgan's payout ratio 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.