AGF Management Ltd. Has $2.38 Million Stake in Silgan Holdings Inc. (NYSE:SLGN)

AGF Management Ltd. reduced its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 25.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,774 shares of the industrial products company's stock after selling 15,574 shares during the period. AGF Management Ltd.'s holdings in Silgan were worth $2,383,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SLGN. FMR LLC boosted its stake in Silgan by 87.7% in the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company's stock valued at $329,619,000 after acquiring an additional 2,932,680 shares during the period. Raymond James Financial Inc. acquired a new position in Silgan during the 4th quarter valued at approximately $11,419,000. Weiss Asset Management LP bought a new position in Silgan during the 3rd quarter worth $11,422,000. Bank of New York Mellon Corp increased its position in Silgan by 22.6% in the fourth quarter. Bank of New York Mellon Corp now owns 914,019 shares of the industrial products company's stock worth $47,575,000 after buying an additional 168,789 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in Silgan by 202.3% in the third quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company's stock valued at $13,015,000 after buying an additional 165,900 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SLGN has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Silgan from $53.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Robert W. Baird upped their target price on shares of Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Truist Financial reaffirmed a "buy" rating and set a $70.00 price target (up previously from $69.00) on shares of Silgan in a report on Thursday, January 30th. Bank of America increased their price objective on Silgan from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Wells Fargo & Company lifted their target price on Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $64.22.

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Insider Buying and Selling

In related news, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 152,133 shares in the company, valued at $8,096,518.26. This trade represents a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 227,332 shares in the company, valued at approximately $12,441,880.36. The trade was a 35.48 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by insiders.

Silgan Price Performance

NYSE SLGN traded up $0.41 on Monday, reaching $49.83. 476,932 shares of the stock traded hands, compared to its average volume of 593,784. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The firm's fifty day simple moving average is $52.91 and its 200 day simple moving average is $52.81. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 1.27 and a beta of 0.71.

Silgan (NYSE:SLGN - Get Free Report) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (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%. As a group, research analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.61%. Silgan's dividend payout ratio is currently 31.01%.

About Silgan

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.