Ritholtz Wealth Management Acquires 5,236 Shares of Silgan Holdings Inc. (NYSE:SLGN)

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

Several other institutional investors and hedge funds have also modified their holdings of SLGN. CX Institutional acquired a new position in Silgan during the 1st quarter worth $42,000. UMB Bank n.a. lifted its holdings in Silgan by 254.9% during the 1st quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock worth $46,000 after buying an additional 645 shares in the last quarter. GeoWealth Management LLC acquired a new position in Silgan during the 4th quarter worth $56,000. Bank of Jackson Hole Trust acquired a new position in Silgan during the 4th quarter worth $59,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Silgan by 1,229.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock worth $107,000 after buying an additional 1,906 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on SLGN. Citigroup upped their price objective on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Raymond James Financial raised Silgan from an "outperform" rating to a "strong-buy" rating and cut their price target for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Truist Financial cut their price target on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Silgan currently has an average rating of "Buy" and an average target price of $63.11.

Silgan Trading Up 0.4%

Shares of SLGN traded up $0.22 during trading hours on Friday, reaching $53.92. The stock had a trading volume of 662,173 shares, compared to its average volume of 665,633. The company has a quick ratio of 0.67, a current ratio of 1.14 and a debt-to-equity ratio of 1.67. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The firm has a 50-day moving average of $53.42 and a 200 day moving average of $52.60. The company has a market cap of $5.77 billion, a P/E ratio of 20.05, a P/E/G ratio of 1.21 and a beta of 0.76.

Silgan (NYSE:SLGN - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $1.48 billion. Silgan had a net margin of 4.82% and a return on equity of 20.00%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. On average, sell-side analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Monday, June 2nd. Silgan's dividend payout ratio (DPR) is presently 29.74%.

Insiders Place Their Bets

In other news, VP B Frederik Prinzen sold 2,378 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was 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 owns 1,380 shares in the company, valued at $74,589. This trade represents a 63.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Lewis sold 10,000 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the completion of the transaction, the executive vice president now owns 153,378 shares of the company's stock, valued at $8,576,897.76. The trade was a 6.12% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.13% 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.