XTX Topco Ltd Purchases Shares of 10,324 Silgan Holdings Inc. (NYSE:SLGN)

XTX Topco Ltd acquired a new stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 10,324 shares of the industrial products company's stock, valued at approximately $528,000.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Silgan during the first quarter worth about $51,000. M&T Bank Corp grew its holdings in Silgan by 6.9% during the first quarter. M&T Bank Corp now owns 18,135 shares of the industrial products company's stock worth $927,000 after purchasing an additional 1,165 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Silgan by 13.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,903 shares of the industrial products company's stock worth $353,000 after purchasing an additional 815 shares during the period. Janney Montgomery Scott LLC grew its holdings in Silgan by 1.4% during the first quarter. Janney Montgomery Scott LLC now owns 49,933 shares of the industrial products company's stock worth $2,553,000 after purchasing an additional 695 shares during the period. Finally, CX Institutional bought a new position in Silgan during the first quarter worth about $42,000. Institutional investors own 70.25% of the company's stock.

Analysts Set New Price Targets

SLGN has been the topic of a number of recent research reports. Truist Financial increased their target price on Silgan from $62.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Raymond James Financial lowered their target price on Silgan from $64.00 to $60.00 and set a "strong-buy" rating on the stock in a research note on Thursday, July 31st. JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price on the stock in a research note on Thursday, May 1st. Citigroup increased their target price on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company lifted their price target on shares of Silgan from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Silgan presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.44.

Silgan Price Performance

SLGN traded down $0.22 during trading on Friday, hitting $46.40. 763,072 shares of the stock traded hands, compared to its average volume of 1,243,419. Silgan Holdings Inc. has a twelve month low of $44.37 and a twelve month high of $58.14. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.16 and a beta of 0.69. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.48 and a quick ratio of 0.28. The business has a 50 day moving average price of $53.59 and a 200 day moving average price of $52.74.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.02). Silgan had a net margin of 4.90% and a return on equity of 19.98%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. Equities research analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, September 2nd. Silgan's payout ratio is currently 28.47%.

Insider Buying and Selling

In other news, EVP Robert B. Lewis sold 10,000 shares of the company's stock in a transaction 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 transaction, the executive vice president directly owned 153,378 shares in the company, valued at approximately $8,576,897.76. This represents a 6.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.13% of the stock is currently owned by corporate 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.