Gotham Asset Management LLC Has $2.70 Million Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Gotham Asset Management LLC lifted its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 90.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,944 shares of the industrial products company's stock after buying an additional 24,676 shares during the quarter. Gotham Asset Management LLC's holdings in Silgan were worth $2,704,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Arizona State Retirement System grew its holdings in Silgan by 0.8% in the fourth quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company's stock valued at $1,290,000 after purchasing an additional 195 shares during the period. Aristeia Capital L.L.C. grew its holdings in Silgan by 4.0% in the fourth quarter. Aristeia Capital L.L.C. now owns 5,488 shares of the industrial products company's stock valued at $286,000 after purchasing an additional 212 shares during the period. Treasurer of the State of North Carolina grew its holdings in Silgan by 0.6% in the fourth 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 purchasing an additional 230 shares during the period. Synovus Financial Corp grew its holdings in Silgan by 1.6% in the fourth quarter. Synovus Financial Corp now owns 22,721 shares of the industrial products company's stock valued at $1,183,000 after purchasing an additional 368 shares during the period. Finally, LPL Financial LLC grew its holdings in Silgan by 1.8% in the fourth quarter. LPL Financial LLC now owns 21,793 shares of the industrial products company's stock valued at $1,134,000 after purchasing an additional 393 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on SLGN shares. JPMorgan Chase & Co. raised shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target on the stock in a research report on Thursday, May 1st. Truist Financial cut their price target on shares of Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company boosted their target price on shares of Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Loop Capital boosted their target price on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Finally, 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 note on Thursday, May 8th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $63.11.

Insider Activity at Silgan

In related news, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total value of $128,530.90. Following the completion of the sale, the vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the completion of the sale, the chief executive officer now owns 227,332 shares of the company's stock, valued at approximately $12,441,880.36. The trade was a 35.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

Silgan Stock Performance

Shares of Silgan stock traded up $0.63 during midday trading on Monday, hitting $56.08. The company had a trading volume of 609,291 shares, compared to its average volume of 666,967. The business's 50 day simple moving average is $50.79 and its two-hundred day simple moving average is $52.68. The stock has a market cap of $6.00 billion, a PE ratio of 21.74, a P/E/G ratio of 1.27 and a beta of 0.74. 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 Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14.

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 for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. The business's revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts predict that Silgan Holdings Inc. will post 4.11 EPS 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 issued a $0.20 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. Silgan's dividend payout ratio is 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.