Edgestream Partners L.P. Takes Position in Silgan Holdings Inc. (NYSE:SLGN)

Edgestream Partners L.P. bought a new position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 20,246 shares of the industrial products company's stock, valued at approximately $1,054,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SLGN. Bank of Jackson Hole Trust acquired a new position in shares of Silgan during the 4th quarter worth about $59,000. Venturi Wealth Management LLC lifted its stake in Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company's stock valued at $74,000 after purchasing an additional 963 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Silgan by 1,229.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock valued at $107,000 after purchasing an additional 1,906 shares during the period. KBC Group NV increased its stake in Silgan by 27.7% in the third 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 during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Silgan by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company's stock valued at $137,000 after purchasing an additional 863 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SLGN shares. Bank of America upped their price objective on shares of Silgan from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Truist Financial reiterated a "buy" rating and issued a $70.00 target price (up from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Raymond James boosted their price target on Silgan from $62.00 to $65.00 and gave the stock an "outperform" rating in a 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 company an "overweight" rating in a report on Thursday, January 30th. Finally, Loop Capital raised their price target 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. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $64.22.

Remove Ads

Silgan Trading Down 1.2 %

NYSE:SLGN opened at $50.85 on Wednesday. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.27 and a beta of 0.71. The firm has a fifty day simple moving average of $53.04 and a two-hundred day simple moving average of $52.85. 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 Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share 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%. Analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The firm 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 $0.20 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.80 annualized dividend and a yield of 1.57%. This is an increase from Silgan's previous quarterly dividend of $0.19. Silgan's dividend payout ratio (DPR) is presently 31.01%.

Insider Buying and Selling 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 shares were sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer now owns 227,332 shares of the company's stock, 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 company insiders.

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.

Want to see what other hedge funds are holding SLGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silgan Holdings Inc. (NYSE:SLGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.