Wright Investors Service Inc. Purchases New Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Wright Investors Service Inc. purchased a new position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,248 shares of the industrial products company's stock, valued at approximately $473,000.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Silgan by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock worth $464,886,000 after purchasing an additional 455,381 shares in the last quarter. FMR LLC boosted its holdings in Silgan by 12.2% in the fourth quarter. FMR LLC now owns 7,046,400 shares of the industrial products company's stock worth $366,765,000 after purchasing an additional 767,944 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Silgan by 12.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock valued at $301,670,000 after acquiring an additional 656,923 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Silgan by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,062,013 shares of the industrial products company's stock valued at $159,377,000 after acquiring an additional 11,836 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Silgan by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,140,028 shares of the industrial products company's stock valued at $111,388,000 after acquiring an additional 9,532 shares during the period. 70.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SLGN shares. Citigroup upped their price target on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Raymond James upgraded shares of 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 report on Tuesday, April 22nd. JPMorgan Chase & Co. upgraded shares of 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. Finally, Truist Financial decreased their price target on shares of Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. One 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $63.11.

Silgan Stock Performance

Shares of NYSE SLGN traded up $0.17 during mid-day trading on Thursday, hitting $53.64. The company had a trading volume of 306,616 shares, compared to its average volume of 662,186. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. The business's 50-day simple moving average is $52.05 and its 200-day simple moving average is $52.80. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The firm has a market cap of $5.74 billion, a P/E ratio of 20.79, a PEG ratio of 1.27 and a beta of 0.74.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business posted $0.69 earnings per share. The company's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, 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 will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.49%. The ex-dividend date is Monday, June 2nd. Silgan's dividend payout ratio (DPR) is presently 29.74%.

Insider Buying and Selling

In other news, EVP Robert B. Lewis sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were 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 of the company's stock, valued at approximately $8,576,897.76. This trade represents a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP B Frederik Prinzen sold 2,378 shares of the firm's stock in a transaction that occurred 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 sale, the vice president now directly owns 1,380 shares of the company's stock, valued at approximately $74,589. The trade was a 63.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.13% of the company's stock.

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.