Silgan Holdings Inc. (NYSE:SLGN) Stock Position Increased by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. boosted its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 87.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,253,727 shares of the industrial products company's stock after buying an additional 584,840 shares during the period. T. Rowe Price Investment Management Inc. owned 1.17% of Silgan worth $65,257,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Stifel Financial Corp bought a new stake in Silgan in the third quarter worth about $203,000. Barclays PLC increased its holdings in Silgan by 23.6% during the third quarter. Barclays PLC now owns 57,327 shares of the industrial products company's stock valued at $3,010,000 after buying an additional 10,936 shares during the period. Sanctuary Advisors LLC increased its position in Silgan by 32.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 7,182 shares of the industrial products company's stock valued at $406,000 after buying an additional 1,747 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Silgan in the third quarter valued at about $223,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in Silgan in the third quarter valued at about $2,975,000. Hedge funds and other institutional investors own 70.25% of the company's stock.

Silgan Stock Up 1.4 %

Shares of NYSE:SLGN traded up $0.73 during midday trading on Thursday, hitting $52.38. 301,055 shares of the company's stock traded hands, compared to its average volume of 663,179. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. The company has a market cap of $5.60 billion, a PE ratio of 20.31, a P/E/G ratio of 1.27 and a beta of 0.81. The firm's fifty day moving average price is $50.47 and its two-hundred day moving average price is $52.43. Silgan Holdings Inc. has a twelve month low of $41.14 and a twelve month high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 EPS 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 analyst estimates of $1.48 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The firm's revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.20 dividend. This is a positive change from Silgan's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.80 annualized dividend and a dividend yield of 1.53%. Silgan's dividend payout ratio (DPR) is presently 31.01%.

Analyst Ratings Changes

Several research analysts have recently issued reports on SLGN shares. Raymond James upgraded Silgan from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the stock from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Royal Bank of Canada lifted their price target on Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Robert W. Baird lifted their price objective on Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective on the stock in a research report on Thursday. Finally, Truist Financial cut their price objective on Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $62.78.

Insider Transactions at Silgan

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the sale, the executive vice president now owns 152,133 shares of the company's stock, valued at $8,096,518.26. The trade was a 11.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $6,841,250.00. Following the sale, the chief executive officer now directly owns 227,332 shares in the company, valued at $12,441,880.36. The trade was a 35.48 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% of the company's stock.

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.