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Fort Washington Investment Advisors Inc. OH Buys 55,650 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Silgan logo with Industrials background

Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 441,360 shares of the industrial products company's stock after buying an additional 55,650 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.41% of Silgan worth $22,562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CX Institutional bought a new position in Silgan in the first quarter valued at about $42,000. Handelsbanken Fonder AB raised its position in Silgan by 38.2% in the first quarter. Handelsbanken Fonder AB now owns 31,088 shares of the industrial products company's stock valued at $1,589,000 after purchasing an additional 8,600 shares during the last quarter. SG Americas Securities LLC bought a new position in Silgan in the first quarter valued at about $302,000. RDA Financial Network bought a new position in Silgan in the first quarter valued at about $242,000. Finally, UMB Bank n.a. raised its position in Silgan by 254.9% in the first 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 during the last quarter. 70.25% of the stock is currently owned by institutional investors.

Silgan Price Performance

SLGN traded up $0.40 during trading on Monday, reaching $54.55. 627,016 shares of the company were exchanged, compared to its average volume of 663,317. The company's 50-day moving average is $53.00 and its two-hundred day moving average is $52.65. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 1.27 and a beta of 0.76. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter last year, the firm posted $0.69 EPS. The company's revenue was up 11.4% compared to the same quarter last year. Research analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.20 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.47%. 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 dated Monday, May 19th. The stock was sold at an average price of $55.92, for a total transaction of $559,200.00. Following the transaction, the executive vice president now directly 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 Securities & Exchange Commission, which can be accessed through this link. Also, VP B Frederik Prinzen sold 2,378 shares of the 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 owns 1,380 shares in the company, valued at $74,589. This trade represents a 63.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.13% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on SLGN shares. Citigroup increased their target price on Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Raymond James raised Silgan from an "outperform" rating to a "strong-buy" rating and decreased their price target for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Truist Financial decreased their price target on Silgan from $70.00 to $62.00 and set a "buy" rating for the company 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 for the company 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $63.11.

Read Our Latest Stock Report on Silgan

Silgan Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Silgan (NYSE:SLGN)

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