Fort Washington Investment Advisors Inc. OH Has $22.56 Million Stake in Silgan Holdings Inc. (NYSE:SLGN)

Fort Washington Investment Advisors Inc. OH increased its position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 14.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 441,360 shares of the industrial products company's stock after acquiring an additional 55,650 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.41% of Silgan worth $22,562,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Millennium Management LLC lifted its stake in shares of Silgan by 764.7% during the 4th quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company's stock worth $52,708,000 after purchasing an additional 895,528 shares during the period. FMR LLC raised its position in shares of Silgan by 12.2% in the 4th 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 during the period. Norges Bank purchased a new position in shares of Silgan in the 4th quarter worth $38,680,000. JPMorgan Chase & Co. raised its position in shares of Silgan by 12.8% in the 4th quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock worth $301,670,000 after buying an additional 656,923 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Silgan by 87.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,253,727 shares of the industrial products company's stock worth $65,257,000 after buying an additional 584,840 shares during the period. Institutional investors and hedge funds own 70.25% of the company's stock.

Wall Street Analyst Weigh In

SLGN has been the topic of several research reports. Truist Financial cut their target price on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Raymond James raised Silgan from an "outperform" rating to a "strong-buy" rating and cut their target price for the stock from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Citigroup increased 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. raised Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective on the stock in a research report 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $63.11.

Insider Buying and Selling at Silgan

In other Silgan news, 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 now owns 153,378 shares of the company's stock, valued at approximately $8,576,897.76. This represents a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP B Frederik Prinzen sold 2,378 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were 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 directly owns 1,380 shares in the company, valued at $74,589. This represents a 63.28% decrease in their position. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by insiders.

Silgan Stock Down 1.8%

NYSE:SLGN traded down $1.02 during mid-day trading on Friday, reaching $54.13. The stock had a trading volume of 559,980 shares, compared to its average volume of 663,462. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 1.27 and a beta of 0.76. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14. The stock's 50 day simple moving average is $52.81 and its two-hundred day simple moving average is $52.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28.

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

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.48%. Silgan's payout ratio is currently 29.74%.

Silgan 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.