SG Americas Securities LLC Makes New Investment in Silgan Holdings Inc. (NYSE:SLGN)

SG Americas Securities LLC purchased a new position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,908 shares of the industrial products company's stock, valued at approximately $302,000.

A number of other hedge funds have also modified their holdings of SLGN. Proficio Capital Partners LLC bought a new stake in Silgan during the 4th quarter valued at approximately $873,000. Smartleaf Asset Management LLC grew 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 valued at $107,000 after buying an additional 1,906 shares in the last quarter. Atria Investments Inc raised its position in shares of Silgan by 9.2% during the fourth quarter. Atria Investments Inc now owns 5,067 shares of the industrial products company's stock valued at $264,000 after buying an additional 427 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Silgan by 7.4% in the fourth quarter. Sanctuary Advisors LLC now owns 7,715 shares of the industrial products company's stock worth $433,000 after buying an additional 533 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Silgan by 8.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 50,457 shares of the industrial products company's stock worth $2,627,000 after buying an additional 4,030 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Silgan Stock Performance

Shares of Silgan stock opened at $54.88 on Friday. The company has a market capitalization of $5.87 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.22 and a beta of 0.76. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week 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. The stock's fifty day moving average is $53.85 and its two-hundred day moving average is $52.59.

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 analysts' consensus estimates of $0.78 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. Silgan had a net margin of 4.82% and a return on equity of 20.00%. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. As a group, analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Monday, June 2nd. Silgan's payout ratio is currently 29.74%.

Insider Buying and Selling at Silgan

In other news, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction on Monday, May 19th. The stock was 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 now owns 153,378 shares in the company, valued at approximately $8,576,897.76. This represents a 6.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP B Frederik Prinzen sold 2,378 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were 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 in the company, valued at $74,589. This represents a 63.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.13% of the stock is owned by 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.

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