Hsbc Holdings PLC Acquires Shares of 17,069 Silgan Holdings Inc. (NYSE:SLGN)

Hsbc Holdings PLC purchased a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 17,069 shares of the industrial products company's stock, valued at approximately $886,000.

Other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in Silgan by 170.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,056 shares of the industrial products company's stock valued at $263,000 after buying an additional 3,186 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Silgan by 9.1% in the fourth quarter. MetLife Investment Management LLC now owns 45,783 shares of the industrial products company's stock worth $2,383,000 after buying an additional 3,811 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 buying an additional 11,836 shares during the last quarter. GeoWealth Management LLC bought a new stake in shares of Silgan during the fourth quarter valued at approximately $56,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Silgan by 4.1% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 59,832 shares of the industrial products company's stock worth $3,112,000 after acquiring an additional 2,350 shares during the last quarter. Institutional investors own 70.25% of the company's stock.

Insider Buying and Selling

In other news, VP B Frederik Prinzen sold 2,378 shares of the business'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 transaction, the vice president now owns 1,380 shares of the company's stock, valued at approximately $74,589. The trade was a 63.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction on Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the sale, the chief executive officer now owns 227,332 shares in the company, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,378 shares of company stock valued at $8,034,181. Corporate insiders own 1.39% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SLGN shares. Loop Capital boosted their price target on Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Truist Financial decreased their target price on Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Robert W. Baird lifted their price target on shares of Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Raymond James upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and dropped their target price for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. 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. One 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's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $63.11.

Silgan Stock Performance

Silgan stock traded down $0.17 during midday trading on Friday, hitting $53.64. The stock had a trading volume of 664,782 shares, compared to its average volume of 663,596. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. The company has a market capitalization of $5.74 billion, a PE ratio of 20.79, a P/E/G ratio of 1.27 and a beta of 0.74. The firm's fifty day moving average is $50.50 and its two-hundred day moving average is $52.54.

Silgan (NYSE:SLGN - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, beating 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 company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the company earned $0.69 EPS. Silgan's revenue for the quarter was up 11.4% on a year-over-year basis. On average, research analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.20 per share. 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%.

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.