Proficio Capital Partners LLC Purchases Shares of 16,777 Silgan Holdings Inc. (NYSE:SLGN)

Proficio Capital Partners LLC acquired a new stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,777 shares of the industrial products company's stock, valued at approximately $873,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Atria Investments Inc acquired a new position in Silgan during the third quarter valued at approximately $244,000. GSA Capital Partners LLP purchased a new position in shares of Silgan in the 3rd quarter valued at $238,000. KBC Group NV lifted its holdings in shares of Silgan by 27.7% during the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company's stock valued at $120,000 after acquiring an additional 494 shares in the last quarter. Pathstone Holdings LLC boosted its position in Silgan by 5.3% during the 3rd quarter. Pathstone Holdings LLC now owns 28,448 shares of the industrial products company's stock worth $1,494,000 after purchasing an additional 1,421 shares during the period. Finally, Caprock Group LLC increased its holdings in Silgan by 8.7% in the 3rd quarter. Caprock Group LLC now owns 8,725 shares of the industrial products company's stock valued at $458,000 after purchasing an additional 698 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLGN has been the topic of a number of recent research reports. Truist Financial restated a "buy" rating and set a $70.00 price objective (up previously from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Bank of America upped their price target on Silgan from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Royal Bank of Canada lifted their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Loop Capital upped 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, Wells Fargo & Company lifted their price target 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. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $64.22.

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Silgan Stock Down 0.1 %

SLGN stock traded down $0.06 during mid-day trading on Tuesday, hitting $50.02. 686,019 shares of the company were exchanged, compared to its average volume of 612,356. The firm has a fifty day simple moving average of $52.79 and a 200 day simple moving average of $52.75. The company has a market capitalization of $5.34 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. Silgan Holdings Inc. has a twelve month low of $41.14 and a twelve month high of $58.14. 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 (NYSE:SLGN - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. On average, research analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.20 per share. This is a positive change from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, March 17th. Silgan's dividend payout ratio is currently 31.01%.

Insider Buying and Selling

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the sale, the executive vice president now owns 152,133 shares in the company, valued at $8,096,518.26. The trade was a 11.62 % 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 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.