Silgan Holdings Inc. (NYSE:SLGN) Shares Acquired by Man Group plc

Man Group plc boosted its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 127,003 shares of the industrial products company's stock after purchasing an additional 7,773 shares during the quarter. Man Group plc owned about 0.12% of Silgan worth $6,611,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Arizona State Retirement System grew its holdings in Silgan by 0.8% in the fourth quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company's stock valued at $1,290,000 after purchasing an additional 195 shares during the period. Aristeia Capital L.L.C. lifted its position in Silgan by 4.0% during the fourth quarter. Aristeia Capital L.L.C. now owns 5,488 shares of the industrial products company's stock valued at $286,000 after buying an additional 212 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in Silgan by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 36,440 shares of the industrial products company's stock valued at $1,897,000 after buying an additional 230 shares in the last quarter. Synovus Financial Corp lifted its position in Silgan by 1.6% during the fourth quarter. Synovus Financial Corp now owns 22,721 shares of the industrial products company's stock valued at $1,183,000 after buying an additional 368 shares in the last quarter. Finally, LPL Financial LLC lifted its position in Silgan by 1.8% during the fourth quarter. LPL Financial LLC now owns 21,793 shares of the industrial products company's stock valued at $1,134,000 after buying an additional 393 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SLGN has been the topic of a number of recent research reports. Loop Capital lifted their price target on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and reduced their price target for the company from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Royal Bank of Canada lifted their price target on shares of Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Truist Financial reduced their price target on shares of Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $63.11.

Silgan Stock Down 0.3%

SLGN traded down $0.16 during trading on Thursday, hitting $54.91. The company had a trading volume of 566,606 shares, compared to its average volume of 667,477. The company has a market cap of $5.87 billion, a PE ratio of 21.28, a P/E/G ratio of 1.27 and a beta of 0.74. The business has a 50-day moving average of $51.28 and a 200-day moving average of $52.76. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. 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 released its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.46%. Silgan's payout ratio is 29.74%.

Insider Buying and Selling at Silgan

In other news, EVP Robert B. Lewis sold 10,000 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $55.92, for a total transaction of $559,200.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the transaction, the chief executive officer now owns 227,332 shares of the company's stock, valued at $12,441,880.36. This represents a 35.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,378 shares of company stock worth $7,528,981 over the last 90 days. Insiders own 1.39% of the company's stock.

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.