Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,140,028 shares of the industrial products company's stock after buying an additional 9,532 shares during the period. Victory Capital Management Inc. owned 2.00% of Silgan worth $111,388,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Silgan by 7.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company's stock valued at $290,000 after acquiring an additional 361 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Silgan by 5.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company's stock valued at $390,000 after purchasing an additional 388 shares during the last quarter. Keybank National Association OH boosted its position in shares of Silgan by 3.4% in the 4th quarter. Keybank National Association OH now owns 12,678 shares of the industrial products company's stock valued at $660,000 after purchasing an additional 411 shares during the period. Captrust Financial Advisors grew its stake in Silgan by 5.7% during the 3rd quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company's stock worth $441,000 after buying an additional 456 shares during the last quarter. Finally, KBC Group NV increased its position in Silgan by 27.7% during the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company's stock worth $120,000 after buying an additional 494 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

SLGN has been the subject of several research analyst reports. Royal Bank of Canada increased their price objective on Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Raymond James increased their price target on shares of Silgan from $62.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Loop Capital lifted their price objective on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Wells Fargo & Company increased their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Truist Financial reissued a "buy" rating and set a $70.00 price target (up previously 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $64.22.

Insider Transactions at Silgan

In related news, CEO Adam J. Greenlee sold 125,000 shares of the company'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 value of $6,841,250.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of the firm'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 value of $1,064,400.00. Following the completion of the transaction, the executive vice president now directly owns 152,133 shares of the company's stock, valued at $8,096,518.26. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company's stock.

Silgan Stock Performance

NYSE SLGN traded up $1.22 during trading hours on Friday, hitting $53.08. 766,400 shares of the stock were exchanged, compared to its average volume of 589,904. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. The stock has a 50-day moving average of $53.07 and a 200 day moving average of $52.83.

Silgan (NYSE:SLGN - Get Free Report) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. As a group, equities research analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.20 per share. This is a positive change from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Monday, March 17th. Silgan's payout ratio is presently 31.01%.

Silgan Company 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.