JPMorgan Chase & Co. Buys 656,923 Shares of Silgan Holdings Inc. (NYSE:SLGN)

JPMorgan Chase & Co. raised its position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 12.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,795,781 shares of the industrial products company's stock after acquiring an additional 656,923 shares during the quarter. JPMorgan Chase & Co. owned approximately 5.43% of Silgan worth $301,670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Segall Bryant & Hamill LLC increased its holdings in shares of Silgan by 1.0% in the fourth quarter. Segall Bryant & Hamill LLC now owns 1,291,442 shares of the industrial products company's stock valued at $67,220,000 after purchasing an additional 12,882 shares during the period. Vanguard Group Inc. grew its stake in Silgan by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock valued at $464,886,000 after acquiring an additional 455,381 shares during the last quarter. LPL Financial LLC lifted its stake in Silgan by 1.8% in the 4th quarter. LPL Financial LLC now owns 21,793 shares of the industrial products company's stock valued at $1,134,000 after buying an additional 393 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Silgan during the 4th quarter worth about $1,457,000. Finally, Hillsdale Investment Management Inc. boosted its position in Silgan by 6.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 15,100 shares of the industrial products company's stock worth $786,000 after acquiring an additional 900 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

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Silgan Stock Down 3.4 %

Silgan stock traded down $1.71 during mid-day trading on Friday, hitting $47.88. 1,099,679 shares of the company's stock were exchanged, compared to its average volume of 640,315. The stock has a 50 day moving average of $52.42 and a two-hundred day moving average of $52.73. 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 1-year low of $41.14 and a 1-year high of $58.14. The stock has a market cap of $5.11 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.27 and a beta of 0.71.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. As a group, analysts anticipate 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 was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.20 dividend. This is an increase from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Monday, March 17th. Silgan's dividend payout ratio (DPR) is currently 31.01%.

Insider Transactions at Silgan

In other news, EVP Robert B. Lewis sold 20,000 shares of the company's stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were 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 owns 227,332 shares of the company's stock, valued at $12,441,880.36. The trade was a 35.48 % 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 corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SLGN shares. Truist Financial restated a "buy" rating and set a $70.00 price target (up from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Bank of America lifted their price objective on shares of Silgan from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Wells Fargo & Company raised their price target on shares of Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Robert W. Baird upped their price objective on shares of Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price target on Silgan from $53.00 to $57.00 and gave the company a "neutral" 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 data from MarketBeat.com, Silgan currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.22.

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.