New York State Common Retirement Fund Has $7.50 Million Position in Silgan Holdings Inc. (NYSE:SLGN)

New York State Common Retirement Fund boosted its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 27.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,698 shares of the industrial products company's stock after acquiring an additional 31,447 shares during the period. New York State Common Retirement Fund owned about 0.14% of Silgan worth $7,499,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SLGN. CX Institutional bought a new position in Silgan in the first quarter worth about $42,000. UMB Bank n.a. lifted its holdings in Silgan by 254.9% in the first quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock worth $46,000 after acquiring an additional 645 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Silgan in the first quarter worth about $51,000. GeoWealth Management LLC bought a new position in Silgan in the fourth quarter worth about $56,000. Finally, Continuum Advisory LLC lifted its holdings in Silgan by 2,754.3% in the first quarter. Continuum Advisory LLC now owns 1,313 shares of the industrial products company's stock worth $67,000 after acquiring an additional 1,267 shares during the last quarter. Institutional investors own 70.25% of the company's stock.

Silgan Price Performance

Shares of NYSE SLGN traded up $0.04 during mid-day trading on Wednesday, reaching $56.06. 616,140 shares of the company traded hands, compared to its average volume of 671,876. Silgan Holdings Inc. has a fifty-two week low of $44.37 and a fifty-two week 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 firm has a market cap of $6.00 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.30 and a beta of 0.75. The stock has a fifty day simple moving average of $54.92 and a 200-day simple moving average of $52.91.

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

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.43%. Silgan's dividend payout ratio (DPR) is 29.74%.

Insider Activity at Silgan

In other Silgan news, EVP Robert B. Lewis sold 10,000 shares of Silgan stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the transaction, the executive vice president owned 153,378 shares in the company, valued at approximately $8,576,897.76. The trade was a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total transaction of $128,530.90. Following the transaction, the vice president owned 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. Insiders own 1.13% of the company's stock.

Analysts Set New Price Targets

SLGN has been the topic of a number of recent research reports. Bank of America reissued a "neutral" rating and issued a $59.00 target price (up previously from $57.00) on shares of Silgan in a report on Wednesday, July 9th. Wells Fargo & Company boosted their price objective on Silgan from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective for the company in a research report on Thursday, May 1st. Raymond James Financial reiterated a "strong-buy" rating on shares of Silgan in a research report on Tuesday, July 15th. Finally, Truist Financial set a $67.00 price target on Silgan and gave the stock a "buy" rating in a research note on Friday, July 11th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.78.

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.