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

PharVision Advisers LLC bought a new position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,534 shares of the industrial products company's stock, valued at approximately $392,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLGN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Silgan by 10.3% during 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 worth $10,368,000 after buying an additional 18,670 shares during the period. Tidal Investments LLC lifted its position in Silgan by 67.7% during the 4th quarter. Tidal Investments LLC now owns 31,298 shares of the industrial products company's stock worth $1,629,000 after acquiring an additional 12,631 shares during the last quarter. Man Group plc grew its position in shares of Silgan by 6.5% in the fourth 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 during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Silgan in the fourth quarter valued at about $561,000. Finally, Millennium Management LLC increased its stake in shares of Silgan by 764.7% in the fourth quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company's stock worth $52,708,000 after purchasing an additional 895,528 shares during the period. Institutional investors and hedge funds own 70.25% of the company's stock.

Silgan Trading Down 0.0%

NYSE:SLGN opened at $56.09 on Wednesday. The business's 50-day simple moving average is $51.07 and its 200-day simple moving average is $52.73. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. 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 market capitalization of $6.00 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.48 billion. Silgan had a return on equity of 19.70% and a net margin of 4.72%. Silgan's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS. Sell-side analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.20 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. Silgan's payout ratio is 29.74%.

Analyst Ratings Changes

SLGN has been the topic of a number of research analyst reports. Loop Capital raised their target price on Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Robert W. Baird raised their price objective on shares of Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Citigroup boosted their target price 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. JPMorgan Chase & Co. upgraded shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price for the company in a research note on Thursday, May 1st. Finally, Truist Financial decreased 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. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $63.11.

Insiders Place Their Bets

In related news, 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 value of $128,530.90. Following the transaction, the vice president now directly owns 1,380 shares of the company's stock, valued at $74,589. The trade was a 63.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the sale, the chief executive officer now owns 227,332 shares of the company's stock, valued at approximately $12,441,880.36. The trade was a 35.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.39% of the company's stock.

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.

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