Vanguard Group Inc. Boosts Stake in Silgan Holdings Inc. (NYSE:SLGN)

Vanguard Group Inc. boosted its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,931,526 shares of the industrial products company's stock after acquiring an additional 455,381 shares during the period. Vanguard Group Inc. owned 8.36% of Silgan worth $464,886,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new position in shares of Silgan during the third quarter valued at approximately $2,975,000. BNP Paribas Financial Markets increased its position in Silgan by 144.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company's stock valued at $2,884,000 after buying an additional 32,432 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Silgan during the fourth quarter valued at $620,000. Geode Capital Management LLC boosted its holdings in Silgan by 11.7% in the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company's stock worth $78,509,000 after acquiring an additional 157,160 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Silgan in the fourth quarter worth $1,142,000. Institutional investors own 70.25% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SLGN shares. Truist Financial reaffirmed a "buy" rating and issued a $70.00 price target (up previously from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Robert W. Baird lifted their target price on shares of Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Loop Capital increased their price target on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Wells Fargo & Company boosted their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their target price on Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a research note 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $64.22.

Silgan Stock Performance

Shares of NYSE SLGN traded down $1.71 during midday trading on Friday, hitting $47.88. 1,099,679 shares of the stock traded hands, compared to its average volume of 640,378. The firm has a market capitalization of $5.11 billion, a P/E ratio of 18.56, a PEG ratio of 1.27 and a beta of 0.71. Silgan Holdings Inc. has a one year low of $41.14 and a one year 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. The firm has a 50-day moving average of $52.42 and a two-hundred day moving average of $52.75.

Silgan (NYSE:SLGN - Get Free Report) last posted its 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 return on equity of 19.70% and a net margin of 4.72%. On average, equities 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 was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.67%. Silgan's dividend payout ratio (DPR) is presently 31.01%.

Insider Transactions at Silgan

In other news, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of the 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. Corporate insiders own 1.39% of the company's stock.

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.