Kennedy Capital Management LLC Raises Position in Silgan Holdings Inc. (NYSE:SLGN)

Kennedy Capital Management LLC boosted its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,520 shares of the industrial products company's stock after acquiring an additional 8,115 shares during the quarter. Kennedy Capital Management LLC owned 0.11% of Silgan worth $6,169,000 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 SLGN. Arizona State Retirement System raised its position in Silgan by 0.8% in the 4th quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company's stock valued at $1,290,000 after buying an additional 195 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Silgan by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 36,440 shares of the industrial products company's stock valued at $1,897,000 after purchasing an additional 230 shares during the last quarter. LPL Financial LLC lifted its position in shares of Silgan by 1.8% in the fourth quarter. LPL Financial LLC now owns 21,793 shares of the industrial products company's stock worth $1,134,000 after purchasing an additional 393 shares in the last quarter. M&T Bank Corp grew its position in Silgan by 2.4% in the fourth quarter. M&T Bank Corp now owns 16,970 shares of the industrial products company's stock valued at $883,000 after purchasing an additional 404 shares in the last quarter. Finally, Keybank National Association OH lifted its position in Silgan by 3.4% during the 4th quarter. Keybank National Association OH now owns 12,678 shares of the industrial products company's stock worth $660,000 after buying an additional 411 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Silgan

In other news, EVP Robert B. Lewis sold 20,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was 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. This trade represents a 11.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adam J. Greenlee sold 125,000 shares of the firm'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 value 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 trade represents a 35.48 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate insiders.

Silgan Trading Down 1.0 %

Shares of Silgan stock traded down $0.49 during trading on Tuesday, hitting $49.05. The company's stock had a trading volume of 631,155 shares, compared to its average volume of 649,592. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The stock has a 50-day moving average price of $51.17 and a two-hundred day moving average price of $52.49.

Silgan (NYSE:SLGN - Get Free Report) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 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%. Equities research analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.63%. This is an increase from Silgan's previous quarterly dividend of $0.19. The ex-dividend date was Monday, March 17th. Silgan's payout ratio is currently 31.01%.

Wall Street Analysts Forecast Growth

SLGN has been the topic of a number of recent research reports. 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 reissued a "buy" rating and set a $70.00 target price (up from $69.00) on shares of Silgan in a report on Thursday, January 30th. Wells Fargo & Company lifted their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Robert W. Baird boosted their price objective on Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Raymond James upped their price target on shares of Silgan from $62.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock 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.