Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by Royce & Associates LP

Royce & Associates LP raised its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 18.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 583,380 shares of the industrial products company's stock after buying an additional 92,321 shares during the period. Royce & Associates LP owned about 0.55% of Silgan worth $29,822,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. CX Institutional purchased a new position in shares of Silgan in the 1st quarter valued at about $42,000. UMB Bank n.a. increased its stake in shares of Silgan by 254.9% in the 1st quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 645 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Silgan in the 1st quarter valued at about $51,000. GeoWealth Management LLC purchased a new stake in Silgan during the 4th quarter worth approximately $56,000. Finally, Continuum Advisory LLC increased its stake in Silgan by 2,754.3% during the 1st quarter. Continuum Advisory LLC now owns 1,313 shares of the industrial products company's stock worth $67,000 after buying an additional 1,267 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company's stock.

Analyst Ratings Changes

SLGN has been the subject of several research reports. Bank of America reiterated a "neutral" rating and set a $59.00 price objective (up from $57.00) on shares of Silgan in a research note on Wednesday, July 9th. Truist Financial boosted their price objective on Silgan from $62.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Citigroup boosted their price objective on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company boosted their price objective on Silgan from $60.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Silgan in a research note on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Silgan currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.78.

Silgan Price Performance

Shares of Silgan stock traded down $0.26 on Monday, hitting $55.46. 665,171 shares of the company were exchanged, compared to its average volume of 712,247. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 1.30 and a beta of 0.75. The company has a 50-day moving average price of $54.97 and a 200 day moving average price of $53.02. Silgan Holdings Inc. has a 1-year low of $44.37 and a 1-year high of $58.14. 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 (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. Silgan had a return on equity of 20.00% and a net margin of 4.82%. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the prior year, the firm posted $0.69 earnings per share. The firm's quarterly revenue 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 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company 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 1.44%. The ex-dividend date of this dividend was Monday, June 2nd. Silgan's dividend payout ratio (DPR) is 29.74%.

Insiders Place Their Bets

In other Silgan news, VP B Frederik Prinzen sold 2,378 shares of the company's stock in a transaction 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 transaction, the vice president directly owned 1,380 shares in the company, valued at $74,589. This represents a 63.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Lewis sold 10,000 shares of the company's stock in a transaction on 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 owned 153,378 shares in the company, valued at $8,576,897.76. This trade represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.13% 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.