Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 44.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,140 shares of the industrial products company's stock after buying an additional 5,236 shares during the period. Ritholtz Wealth Management's holdings in Silgan were worth $876,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Arizona State Retirement System lifted its stake in Silgan by 0.8% in the 4th quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company's stock worth $1,290,000 after purchasing an additional 195 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Silgan by 5.9% in the first quarter. Central Pacific Bank Trust Division now owns 3,760 shares of the industrial products company's stock valued at $192,000 after purchasing an additional 210 shares during the last quarter. 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 worth $286,000 after buying an additional 212 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake 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 worth $1,897,000 after buying an additional 230 shares during the last quarter. Finally, Synovus Financial Corp increased its stake in shares of Silgan by 1.6% in the 4th quarter. Synovus Financial Corp now owns 22,721 shares of the industrial products company's stock worth $1,183,000 after acquiring an additional 368 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Robert B. Lewis sold 10,000 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $55.92, for a total value of $559,200.00. Following the transaction, the executive vice president now owns 153,378 shares in the company, valued at $8,576,897.76. The trade was a 6.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.13% of the company's stock.

Silgan Stock Down 0.1%

Shares of NYSE:SLGN traded down $0.07 during trading hours on Wednesday, reaching $53.64. The stock had a trading volume of 525,622 shares, compared to its average volume of 663,967. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The firm's 50 day moving average is $53.10 and its 200-day moving average is $52.66. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.22 and a beta of 0.76. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.67 and a current ratio of 1.14.

Silgan (NYSE:SLGN - Get Free Report) last posted its earnings results 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. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. Silgan had a return on equity of 20.00% and a net margin of 4.82%. Silgan's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. Research analysts predict that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.20 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.49%. Silgan's dividend payout ratio is presently 29.74%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Truist Financial dropped their price target 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. Citigroup lifted their price objective on Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. raised Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price on the stock in a research note on Thursday, May 1st. Finally, Raymond James Financial raised Silgan from an "outperform" rating to a "strong-buy" rating and dropped their target price for the company from $65.00 to $60.00 in a research report on Tuesday, April 22nd. One equities 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 data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $63.11.

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.