Silgan Holdings Inc. (NYSE:SLGN) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,323,963 shares of the industrial products company's stock after purchasing an additional 66,837 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.11% of Silgan worth $105,159,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SLGN. Wellington Management Group LLP raised its holdings in Silgan by 43.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,220,003 shares of the industrial products company's stock worth $181,924,000 after acquiring an additional 1,269,349 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Silgan by 20.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,053,086 shares of the industrial products company's stock worth $260,949,000 after acquiring an additional 1,047,558 shares during the last quarter. Norges Bank purchased a new position in Silgan in the 4th quarter worth approximately $54,128,000. Morgan Stanley raised its holdings in Silgan by 101.0% in the 4th quarter. Morgan Stanley now owns 1,729,687 shares of the industrial products company's stock worth $89,667,000 after acquiring an additional 868,999 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in Silgan by 1,925.2% in the 4th quarter. Deutsche Bank AG now owns 497,727 shares of the industrial products company's stock worth $25,802,000 after acquiring an additional 473,150 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLGN has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Silgan from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Thursday, February 1st. Wells Fargo & Company lifted their target price on shares of Silgan from $50.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, February 1st. Truist Financial lifted their target price on shares of Silgan from $52.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. lifted their target price on shares of Silgan from $39.00 to $46.00 and gave the stock an "underweight" rating in a research report on Thursday, February 1st. Finally, Citigroup lifted their target price on shares of Silgan from $47.00 to $51.00 and gave the stock a "neutral" rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.75.

Insider Buying and Selling

In related news, VP B Frederik Prinzen sold 4,684 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $43.89, for a total value of $205,580.76. Following the completion of the transaction, the vice president now owns 8,613 shares of the company's stock, valued at approximately $378,024.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 13.08% of the stock is currently owned by insiders.

Silgan Stock Performance

Shares of SLGN stock traded up $0.87 during mid-day trading on Tuesday, reaching $49.14. 961,420 shares of the company's stock traded hands, compared to its average volume of 579,563. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $54.92. The firm has a 50 day moving average price of $45.26 and a two-hundred day moving average price of $43.55. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.61 and a current ratio of 1.02. The firm has a market capitalization of $5.25 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 2.62 and a beta of 0.68.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.39 billion. Silgan had a net margin of 5.44% and a return on equity of 20.29%. On average, research analysts forecast that Silgan Holdings Inc. will post 3.67 EPS for the current year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.76 annualized dividend and a yield of 1.55%. This is an increase from Silgan's previous quarterly dividend of $0.18. Silgan's dividend payout ratio is currently 25.50%.

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.