Royce & Associates LP increased its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 18.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 583,380 shares of the industrial products company's stock after acquiring an additional 92,321 shares during the period. Royce & Associates LP owned approximately 0.55% of Silgan worth $29,822,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Silgan by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock valued at $464,886,000 after buying an additional 455,381 shares during the period. FMR LLC raised its stake in Silgan by 12.2% in the fourth quarter. FMR LLC now owns 7,046,400 shares of the industrial products company's stock worth $366,765,000 after buying an additional 767,944 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Silgan by 12.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock worth $301,670,000 after purchasing an additional 656,923 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Silgan by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,062,013 shares of the industrial products company's stock worth $159,377,000 after purchasing an additional 11,836 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Silgan by 4.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,595,520 shares of the industrial products company's stock worth $133,150,000 after purchasing an additional 115,878 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on SLGN. JPMorgan Chase & Co. raised shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective on the stock in a report on Thursday, May 1st. Truist Financial set a $67.00 target price on shares of Silgan and gave the stock a "buy" rating in a research note on Friday, July 11th. Citigroup raised their price target on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Raymond James Financial reiterated a "strong-buy" rating on shares of Silgan in a report on Tuesday, July 15th. Finally, Bank of America reiterated a "neutral" rating and issued a $59.00 price objective (up previously from $57.00) on shares of Silgan in a report on Wednesday, July 9th. 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 MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $63.78.
Get Our Latest Report on Silgan
Insider Buying and Selling
In related news, EVP Robert B. Lewis sold 10,000 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.92, for a total transaction of $559,200.00. Following the completion of the sale, the executive vice president directly owned 153,378 shares of the company's stock, valued at approximately $8,576,897.76. This trade represents a 6.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP B Frederik Prinzen sold 2,378 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total transaction of $128,530.90. Following the sale, the vice president directly owned 1,380 shares of the company's stock, 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. Company insiders own 1.13% of the company's stock.
Silgan Price Performance
SLGN traded down $0.20 on Thursday, hitting $55.81. 56,592 shares of the company were exchanged, compared to its average volume of 710,145. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.67 and a current ratio of 1.14. The business's fifty day moving average is $54.92 and its 200 day moving average is $52.91. Silgan Holdings Inc. has a fifty-two week low of $44.37 and a fifty-two week high of $58.14. The firm has a market capitalization of $5.97 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 1.30 and a beta of 0.75.
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 (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a net margin of 4.82% and a return on equity of 20.00%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 earnings per share. As a group, sell-side analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current year.
Silgan Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Monday, June 2nd. Silgan's dividend payout ratio is currently 29.74%.
About Silgan
(
Free Report)
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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