Victory Capital Management Inc. Has $108.97 Million Stake in Silgan Holdings Inc. (NYSE:SLGN)

Victory Capital Management Inc. lessened its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 0.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,131,612 shares of the industrial products company's stock after selling 8,416 shares during the period. Victory Capital Management Inc. owned 1.99% of Silgan worth $108,968,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State of Michigan Retirement System grew its holdings in shares of Silgan by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 19,400 shares of the industrial products company's stock worth $992,000 after purchasing an additional 200 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Silgan by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the industrial products company's stock worth $1,160,000 after purchasing an additional 200 shares during the period. Central Pacific Bank Trust Division grew its stake in Silgan by 5.9% during the first quarter. Central Pacific Bank Trust Division now owns 3,760 shares of the industrial products company's stock worth $192,000 after buying an additional 210 shares in the last quarter. Aristeia Capital L.L.C. increased its holdings in Silgan by 4.0% in the 4th quarter. Aristeia Capital L.L.C. now owns 5,488 shares of the industrial products company's stock valued at $286,000 after buying an additional 212 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of Silgan by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 36,440 shares of the industrial products company's stock valued at $1,897,000 after buying an additional 230 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Price Performance

SLGN stock traded down $0.11 during trading on Friday, reaching $55.23. 687,553 shares of the company were exchanged, compared to its average volume of 668,455. The company has a 50-day moving average of $54.85 and a two-hundred day moving average of $52.82. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 1.28 and a beta of 0.75. Silgan Holdings Inc. has a twelve month low of $44.37 and a twelve month high of $58.14. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.14 and a quick ratio of 0.67.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (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 analysts' expectations of $1.48 billion. Silgan had a net margin of 4.82% and a return on equity of 20.00%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. As a group, equities analysts predict 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 was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.45%. The ex-dividend date was Monday, June 2nd. Silgan's dividend payout ratio (DPR) is currently 29.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SLGN shares. Citigroup boosted their target price on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company boosted their target price on shares of Silgan from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday. Bank of America restated a "neutral" rating and issued a $59.00 target price (up from $57.00) on shares of Silgan in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upgraded shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price for the company in a research report on Thursday, May 1st. Finally, Truist Financial set a $67.00 target price on shares of Silgan and gave the company a "buy" rating in a research report on Friday, July 11th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Silgan currently has an average rating of "Moderate Buy" and a consensus price target of $63.78.

Insider Buying and Selling at Silgan

In related news, VP B Frederik Prinzen sold 2,378 shares of the firm'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 completion of the transaction, the vice president directly owned 1,380 shares of the company's stock, valued at $74,589. This trade represents a 63.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Lewis sold 10,000 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by company 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.