Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 13.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 921,651 shares of the industrial products company's stock after buying an additional 106,183 shares during the period. Charles Schwab Investment Management Inc. owned 0.86% of Silgan worth $47,972,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bank of Jackson Hole Trust acquired a new stake in shares of Silgan in the fourth quarter valued at about $59,000. Venturi Wealth Management LLC increased its position in Silgan by 220.4% during the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company's stock worth $74,000 after purchasing an additional 963 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Silgan by 1,229.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock worth $107,000 after purchasing an additional 1,906 shares during the last quarter. KBC Group NV increased its position in Silgan by 27.7% during the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company's stock worth $120,000 after purchasing an additional 494 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Silgan by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company's stock worth $137,000 after purchasing an additional 863 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

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Silgan Stock Down 0.2 %

Shares of NYSE SLGN traded down $0.12 during midday trading on Tuesday, hitting $49.71. The company's stock had a trading volume of 678,134 shares, compared to its average volume of 594,074. The business's fifty day simple moving average is $52.89 and its two-hundred day simple moving average is $52.80. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, beating 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 analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current 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 paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.61%. This is an increase from Silgan's previous quarterly dividend of $0.19. Silgan's payout ratio is currently 31.01%.

Insider Buying and Selling

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were 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 approximately $8,096,518.26. This trade represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam J. Greenlee sold 125,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the sale, the chief executive officer now directly 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 owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SLGN. Truist Financial restated a "buy" rating and set a $70.00 price objective (up from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Wells Fargo & Company raised their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Loop Capital raised their price objective on shares of Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of Silgan from $53.00 to $57.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada increased their target price on shares of Silgan from $63.00 to $65.00 and gave the stock an "outperform" 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.22.

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.