16,777 Shares in Silgan Holdings Inc. (NYSE:SLGN) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,777 shares of the industrial products company's stock, valued at approximately $873,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Jackson Hole Trust acquired a new stake in shares of Silgan in the 4th quarter valued at about $59,000. Venturi Wealth Management LLC raised its stake in shares of 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 period. KBC Group NV raised its stake in shares of Silgan by 27.7% in the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company's stock valued at $120,000 after purchasing an additional 494 shares during the period. GAMMA Investing LLC increased its position in shares of Silgan by 48.6% in the fourth quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company's stock valued at $137,000 after acquiring an additional 863 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Silgan in the third quarter valued at about $154,000. Institutional investors and hedge funds own 70.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SLGN. Bank of America lifted their target price on Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Truist Financial reaffirmed a "buy" rating and issued a $70.00 target price (up previously from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Royal Bank of Canada lifted their target price on Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Loop Capital lifted their target price on Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. 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 report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.22.

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Silgan Price Performance

Shares of NYSE SLGN traded up $1.22 during midday trading on Friday, reaching $53.08. The company's stock had a trading volume of 766,400 shares, compared to its average volume of 589,904. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The business's 50 day moving average price is $53.07 and its two-hundred day moving average price is $52.83. The company has a market cap of $5.67 billion, a P/E ratio of 20.57, 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 earnings per share 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%. On average, analysts forecast 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. Stockholders of record on Monday, March 17th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from Silgan's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 17th. Silgan's payout ratio is presently 31.01%.

Insider Activity

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of the business'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 completion of the transaction, the executive vice president now directly owns 152,133 shares in the company, valued at $8,096,518.26. The trade was a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam J. Greenlee sold 125,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $12,441,880.36. This represents 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 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.