Alpine Global Management LLC Purchases New Shares in Silgan Holdings Inc. (NYSE:SLGN)

Alpine Global Management LLC acquired a new stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 15,370 shares of the industrial products company's stock, valued at approximately $800,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Silgan by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock worth $464,886,000 after buying an additional 455,381 shares during the last quarter. FMR LLC raised its holdings in shares of Silgan by 12.2% in the 4th quarter. FMR LLC now owns 7,046,400 shares of the industrial products company's stock worth $366,765,000 after purchasing an additional 767,944 shares during the period. JPMorgan Chase & Co. lifted its stake in Silgan by 12.8% in the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock valued at $301,670,000 after purchasing an additional 656,923 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Silgan by 0.4% in 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 purchasing an additional 11,836 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Silgan by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,140,028 shares of the industrial products company's stock valued at $111,388,000 after purchasing an additional 9,532 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Robert B. Lewis sold 20,000 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total value of $1,064,400.00. Following the completion of the sale, the executive vice president now owns 152,133 shares of the company's stock, valued at approximately $8,096,518.26. This represents a 11.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam J. Greenlee sold 125,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 227,332 shares of the company's stock, valued at approximately $12,441,880.36. This trade represents a 35.48 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company's stock.

Silgan Price Performance

Silgan stock traded down $0.21 during midday trading on Friday, hitting $51.48. 696,804 shares of the company's stock were exchanged, compared to its average volume of 657,867. The stock has a 50-day moving average price of $50.65 and a two-hundred day moving average price of $52.42. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. The company has a market cap of $5.50 billion, a P/E ratio of 19.95, a PEG ratio of 1.27 and a beta of 0.81. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. On average, equities research analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.20 per share. This is an increase 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 dividend on an annualized basis and a yield of 1.55%. Silgan's dividend payout ratio (DPR) is presently 31.01%.

Wall Street Analyst Weigh In

SLGN has been the topic of a number of recent research reports. Royal Bank of Canada upped their price target on Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Truist Financial dropped their price objective on shares of Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday. Wells Fargo & Company lifted their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Loop Capital boosted their price target on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Finally, Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and cut their price objective for the stock from $65.00 to $60.00 in a report on Tuesday. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.78.

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.