Teacher Retirement System of Texas Has $4.06 Million Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Teacher Retirement System of Texas boosted its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 70.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,032 shares of the industrial products company's stock after acquiring an additional 32,335 shares during the quarter. Teacher Retirement System of Texas owned 0.07% of Silgan worth $4,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Silgan by 87.7% during the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company's stock worth $329,619,000 after acquiring an additional 2,932,680 shares in the last quarter. Raymond James Financial Inc. bought a new position in Silgan in the fourth quarter valued at $11,419,000. Weiss Asset Management LP acquired a new stake in Silgan in the 3rd quarter valued at $11,422,000. Bank of New York Mellon Corp lifted its position in Silgan by 22.6% during the 4th quarter. Bank of New York Mellon Corp now owns 914,019 shares of the industrial products company's stock worth $47,575,000 after buying an additional 168,789 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Silgan by 202.3% during the 3rd quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company's stock worth $13,015,000 after buying an additional 165,900 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Loop Capital upped their target price on Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Truist Financial reissued a "buy" rating and issued a $70.00 target price (up from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Royal Bank of Canada increased their price target on shares of Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Bank of America upped their target price on shares of Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, Wells Fargo & Company upped their price objective on Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $64.22.

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Silgan Stock Performance

NYSE:SLGN traded up $0.69 during mid-day trading on Thursday, hitting $51.72. 93,099 shares of the stock were exchanged, compared to its average volume of 757,020. The firm's 50-day simple moving average is $52.72 and its 200 day simple moving average is $52.73. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. 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 debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45.

Silgan (NYSE:SLGN - Get Free Report) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (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, equities 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 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 1.55%. This is an increase from Silgan's previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 17th. Silgan's payout ratio is presently 31.01%.

Insider Activity at Silgan

In other Silgan news, 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 directly owns 227,332 shares in the company, valued at $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction dated 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 transaction, the executive vice president now owns 152,133 shares in the company, valued at approximately $8,096,518.26. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by corporate insiders.

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.