PharVision Advisers LLC Buys New Shares in Silgan Holdings Inc. (NYSE:SLGN)

PharVision Advisers LLC purchased a new position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,534 shares of the industrial products company's stock, valued at approximately $392,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. GeoWealth Management LLC bought a new stake in Silgan in the fourth quarter worth about $56,000. Bank of Jackson Hole Trust bought a new stake in shares of Silgan in the 4th quarter worth approximately $59,000. Smartleaf Asset Management LLC raised its holdings in shares of Silgan by 1,229.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock worth $107,000 after purchasing an additional 1,906 shares during the period. KBC Group NV lifted its stake in Silgan by 52.5% in the fourth quarter. KBC Group NV now owns 3,473 shares of the industrial products company's stock valued at $181,000 after purchasing an additional 1,196 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Silgan by 153.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company's stock valued at $185,000 after purchasing an additional 2,145 shares during the period. Institutional investors own 70.25% of the company's stock.

Wall Street Analyst Weigh In

SLGN has been the topic of several research reports. Raymond James upgraded Silgan from an "outperform" rating to a "strong-buy" rating and lowered their target price for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Loop Capital boosted their price objective on Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Wells Fargo & Company upped their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Truist Financial reduced their target price on shares of Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada upped their price target on shares of Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. One 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 MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $63.11.

Silgan Price Performance

Shares of SLGN traded down $0.42 during midday trading on Monday, hitting $54.50. 392,417 shares of the company traded hands, compared to its average volume of 665,370. Silgan Holdings Inc. has a one year low of $41.14 and a one year high of $58.14. The firm has a market cap of $5.83 billion, a P/E ratio of 21.12, a PEG ratio of 1.27 and a beta of 0.74. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. The stock has a 50-day moving average of $51.38 and a 200-day moving average of $52.76.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 EPS 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 company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. Silgan's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, sell-side analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.47%. Silgan's dividend payout ratio (DPR) is presently 29.74%.

Insider Activity at Silgan

In related news, EVP Robert B. Lewis sold 10,000 shares of the company's 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 now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP B Frederik Prinzen sold 2,378 shares of the business's 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 completion of the transaction, the vice president now directly owns 1,380 shares of the company's stock, valued at approximately $74,589. This represents a 63.28% decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate insiders.

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.