Leeward Investments LLC MA Grows Position in Silgan Holdings Inc. (NYSE:SLGN)

Leeward Investments LLC MA raised its position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 40.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,517 shares of the industrial products company's stock after buying an additional 64,300 shares during the quarter. Leeward Investments LLC MA owned approximately 0.21% of Silgan worth $11,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. CX Institutional purchased a new stake in Silgan in the 1st quarter valued at $42,000. UMB Bank n.a. raised its holdings in shares of Silgan by 254.9% in the first 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Silgan during the first quarter worth about $51,000. GeoWealth Management LLC acquired a new stake in shares of Silgan during the fourth quarter worth about $56,000. Finally, Continuum Advisory LLC grew its holdings in shares of Silgan by 2,754.3% during the first quarter. Continuum Advisory LLC now owns 1,313 shares of the industrial products company's stock worth $67,000 after buying an additional 1,267 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Trading Down 0.2%

Shares of SLGN stock opened at $56.67 on Friday. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.14 and a quick ratio of 0.67. The business's fifty day moving average price is $54.38 and its 200 day moving average price is $52.62. The firm has a market capitalization of $6.06 billion, a PE ratio of 21.07, a P/E/G ratio of 1.27 and a beta of 0.75.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a net margin of 4.82% and a return on equity of 20.00%. The business's revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. As a group, sell-side analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Monday, June 2nd. Silgan's dividend payout ratio (DPR) is presently 29.74%.

Analyst Upgrades and Downgrades

Several research firms have commented on SLGN. Raymond James Financial raised Silgan from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target for the company in a research note on Thursday, May 1st. Citigroup increased their price target on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Truist Financial dropped their price objective on shares of Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. 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 data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $63.11.

Insider Buying and Selling at Silgan

In related news, VP B Frederik Prinzen sold 2,378 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the sale, the vice president directly owned 1,380 shares of the company's stock, valued at approximately $74,589. This represents a 63.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Lewis sold 10,000 shares of Silgan stock in a transaction dated 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 owned 153,378 shares of the company's stock, valued at approximately $8,576,897.76. The trade was a 6.12% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.13% of the company's stock.

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.

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