Silgan Holdings Inc. (NYSE:SLGN) Shares Acquired by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its stake in Silgan Holdings Inc. by 2.1%, owning 5,916,625 shares worth approximately $302.4 million after acquiring an additional 120,844 shares in the first quarter.
• Silgan reported $1.01 earnings per share for the last quarter, slightly below the consensus estimate of $1.03, while its revenue increased by 11.4% year-over-year to $1.54 billion.
• The company announced a quarterly dividend of $0.20 per share, reflecting an annualized dividend yield of 1.7%, with a payout ratio of 28.47%.

JPMorgan Chase & Co. increased its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,916,625 shares of the industrial products company's stock after purchasing an additional 120,844 shares during the quarter. JPMorgan Chase & Co. owned approximately 5.53% of Silgan worth $302,458,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SLGN. CX Institutional purchased a new position in Silgan during the 1st quarter valued at approximately $42,000. UMB Bank n.a. grew its holdings in Silgan by 254.9% during the 1st quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock valued at $46,000 after buying an additional 645 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Silgan during the 1st quarter valued at approximately $51,000. GeoWealth Management LLC purchased a new position in Silgan during the 4th quarter valued at approximately $56,000. Finally, Continuum Advisory LLC grew its holdings in Silgan by 2,754.3% during the 1st quarter. Continuum Advisory LLC now owns 1,313 shares of the industrial products company's stock valued at $67,000 after buying an additional 1,267 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company's stock.

Insider Activity

In other news, 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 transaction, the executive vice president directly owned 153,378 shares in the company, valued at approximately $8,576,897.76. This trade represents a 6.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.13% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SLGN. Bank of America restated a "neutral" rating and set a $59.00 price target (up previously from $57.00) on shares of Silgan in a report on Wednesday, July 9th. Wells Fargo & Company raised their price target on Silgan from $60.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Citigroup raised their price target on Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective for the company in a research note on Thursday, May 1st. Finally, Truist Financial raised their price objective on Silgan from $62.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $62.44.

Silgan Trading Down 1.1%

Shares of SLGN stock traded down $0.51 on Friday, reaching $46.49. 1,246,406 shares of the company's stock were exchanged, compared to its average volume of 1,330,329. Silgan Holdings Inc. has a 52 week low of $44.37 and a 52 week high of $58.14. The company has a current ratio of 0.96, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $4.97 billion, a PE ratio of 16.54, a P/E/G ratio of 1.16 and a beta of 0.69. The company's fifty day simple moving average is $52.87 and its 200 day simple moving average is $52.51.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.02). The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. Silgan had a return on equity of 19.98% and a net margin of 4.90%. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. As a group, analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $0.20 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.7%. Silgan's dividend payout ratio (DPR) is currently 28.47%.

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.