O Shaughnessy Asset Management LLC raised its position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 351.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,011 shares of the industrial products company's stock after acquiring an additional 14,804 shares during the period. O Shaughnessy Asset Management LLC's holdings in Silgan were worth $990,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. California Public Employees Retirement System raised its position in shares of Silgan by 0.5% during the 4th quarter. California Public Employees Retirement System now owns 382,670 shares of the industrial products company's stock worth $19,918,000 after purchasing an additional 1,863 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Silgan by 6.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,787 shares of the industrial products company's stock worth $614,000 after acquiring an additional 680 shares in the last quarter. Norges Bank purchased a new position in Silgan in the fourth quarter worth approximately $38,680,000. JPMorgan Chase & Co. lifted its holdings in Silgan by 12.8% during the 4th quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock worth $301,670,000 after buying an additional 656,923 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Silgan by 1.0% in the 4th quarter. Segall Bryant & Hamill LLC now owns 1,291,442 shares of the industrial products company's stock valued at $67,220,000 after buying an additional 12,882 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company's stock.
Silgan Trading Up 2.7 %
Shares of SLGN traded up $1.29 during trading hours on Friday, hitting $48.91. 731,164 shares of the stock traded hands, compared to its average volume of 648,247. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14. The business has a fifty day moving average of $51.38 and a 200-day moving average of $52.53. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $5.22 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81.
Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 year.
Silgan Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.64%. This is an increase from Silgan's previous quarterly dividend of $0.19. Silgan's dividend payout ratio (DPR) is currently 31.01%.
Insider Activity at Silgan
In related news, EVP Robert B. Lewis sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the completion of the sale, the executive vice president now owns 152,133 shares of the company's stock, valued at $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 SEC, which is available at the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the transaction, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. This represents 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 corporate insiders.
Wall Street Analysts Forecast Growth
SLGN has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Robert W. Baird upped their price target on shares of Silgan from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Loop Capital lifted their price target on shares of Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Royal Bank of Canada increased their target price on Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Truist Financial restated a "buy" rating and set a $70.00 price objective (up from $69.00) on shares of Silgan in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.22.
Check Out Our Latest Analysis on SLGN
About Silgan
(
Free Report)
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.
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