10,375 Shares in Silgan Holdings Inc. (NYSE:SLGN) Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp purchased a new position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,375 shares of the industrial products company's stock, valued at approximately $540,000.

A number of other institutional investors have also recently bought and sold shares of SLGN. Alpine Global Management LLC acquired a new stake in shares of Silgan in the 4th quarter valued at $800,000. PharVision Advisers LLC acquired a new stake in shares of Silgan in the 4th quarter valued at $392,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Silgan by 10.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 199,202 shares of the industrial products company's stock valued at $10,368,000 after purchasing an additional 18,670 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Silgan by 67.7% in the 4th quarter. Tidal Investments LLC now owns 31,298 shares of the industrial products company's stock valued at $1,629,000 after purchasing an additional 12,631 shares in the last quarter. Finally, Man Group plc boosted its stake in shares of Silgan by 6.5% in the 4th quarter. Man Group plc now owns 127,003 shares of the industrial products company's stock valued at $6,611,000 after purchasing an additional 7,773 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Insiders Place Their Bets

In other news, EVP Robert B. Lewis sold 10,000 shares of the company'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 completion of the sale, the executive vice president now directly owns 153,378 shares of the company's stock, valued at $8,576,897.76. This represents a 6.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP B Frederik Prinzen sold 2,378 shares of the company's 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 completion of the sale, the vice president now directly owns 1,380 shares of the company's stock, valued at approximately $74,589. This trade represents a 63.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.13% of the company's stock.

Silgan Price Performance

NYSE SLGN traded up $0.67 on Friday, hitting $54.22. 380,953 shares of the company were exchanged, compared to its average volume of 663,866. The firm has a 50 day moving average of $52.16 and a two-hundred day moving average of $52.80. The company has a market cap of $5.80 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.27 and a beta of 0.76. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. The business 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 firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. On average, equities analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current 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 issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.48%. Silgan's dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Truist Financial reduced their target price 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. JPMorgan Chase & Co. upgraded shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price on the stock in a research note on Thursday, May 1st. Raymond James upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and reduced their target price for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Finally, Citigroup upped their price target on shares of Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $63.11.

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.