Mackenzie Financial Corp Buys Shares of 10,375 Silgan Holdings Inc. (NYSE:SLGN)

Mackenzie Financial Corp bought a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,375 shares of the industrial products company's stock, valued at approximately $540,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Barclays PLC increased its position in Silgan by 23.6% in the third quarter. Barclays PLC now owns 57,327 shares of the industrial products company's stock worth $3,010,000 after purchasing an additional 10,936 shares during the last quarter. KBC Group NV grew its stake in shares of Silgan by 52.5% in the 4th quarter. KBC Group NV now owns 3,473 shares of the industrial products company's stock worth $181,000 after buying an additional 1,196 shares in the last quarter. Verity Asset Management Inc. bought a new stake in shares of Silgan in the 4th quarter worth about $255,000. Legato Capital Management LLC grew its position in Silgan by 37.2% in the fourth quarter. Legato Capital Management LLC now owns 38,413 shares of the industrial products company's stock worth $1,999,000 after acquiring an additional 10,420 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Silgan by 0.8% during the 4th quarter. Rhumbline Advisers now owns 295,709 shares of the industrial products company's stock valued at $15,392,000 after buying an additional 2,463 shares during the period. 70.25% of the stock is currently owned by institutional investors.

Insider Activity at Silgan

In other Silgan news, EVP Robert B. Lewis sold 10,000 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $8,576,897.76. This represents a 6.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP B Frederik Prinzen sold 2,378 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total transaction of $128,530.90. Following the sale, the vice president now directly owns 1,380 shares in the company, valued at approximately $74,589. The trade was a 63.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SLGN shares. Raymond James upgraded Silgan from an "outperform" rating to a "strong-buy" rating and reduced their price target for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. Truist Financial cut their price objective on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Citigroup lifted their target price on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised shares of 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. One 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 company's stock. According to data from MarketBeat, Silgan currently has an average rating of "Buy" and a consensus target price of $63.11.

Silgan Stock Performance

Shares of Silgan stock traded up $0.08 during midday trading on Thursday, hitting $53.55. The company had a trading volume of 383,596 shares, compared to its average volume of 662,587. The company has a fifty day simple moving average of $52.05 and a 200 day simple moving average of $52.80. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.27 and a beta of 0.74. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14.

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 (EPS) for the quarter, beating 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 return on equity of 19.70% and a net margin of 4.72%. The firm's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. As a group, analysts predict that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 dividend yield of 1.49%. Silgan's dividend payout ratio (DPR) is presently 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.