Russell Investments Group Ltd. Has $10.45 Million Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Russell Investments Group Ltd. cut its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 200,770 shares of the industrial products company's stock after selling 13,286 shares during the period. Russell Investments Group Ltd. owned approximately 0.19% of Silgan worth $10,450,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of Jackson Hole Trust acquired a new stake in shares of Silgan in the 4th quarter worth approximately $59,000. Smartleaf Asset Management LLC lifted its position in 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 worth $107,000 after purchasing an additional 1,906 shares during the period. GAMMA Investing LLC boosted its stake in Silgan by 48.6% during 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 in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Silgan during the 3rd quarter valued at $154,000. Finally, KBC Group NV raised its stake in shares of Silgan by 52.5% in the 4th quarter. KBC Group NV now owns 3,473 shares of the industrial products company's stock worth $181,000 after buying an additional 1,196 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on SLGN. JPMorgan Chase & Co. lifted their target price on Silgan from $53.00 to $57.00 and gave the stock a "neutral" rating in a report 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 research note on Monday, January 6th. Robert W. Baird increased their target price on shares of Silgan from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Raymond James lifted their price target on shares of Silgan from $62.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Truist Financial reiterated a "buy" rating and set a $70.00 price objective (up previously from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Silgan currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.22.

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Insider Buying and Selling at Silgan

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total value of $1,064,400.00. Following the completion of the sale, 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 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 business'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 completion of the sale, the chief executive officer now directly owns 227,332 shares of the company's stock, valued at $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. Company insiders own 1.39% of the company's stock.

Silgan Stock Down 1.0 %

NYSE:SLGN traded down $0.49 during trading hours on Tuesday, hitting $49.05. 631,155 shares of the stock traded hands, compared to its average volume of 648,811. The firm has a 50 day moving average price of $51.27 and a 200 day moving average price of $52.52. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.27 and a beta of 0.81. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. 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 (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, 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%. Equities research analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.20 per share. This is a boost from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Monday, March 17th. Silgan's dividend payout ratio (DPR) is currently 31.01%.

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.