T. Rowe Price Investment Management Inc. Boosts Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

T. Rowe Price Investment Management Inc. lifted its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 87.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,253,727 shares of the industrial products company's stock after acquiring an additional 584,840 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 1.17% of Silgan worth $65,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLGN. Arizona State Retirement System raised its holdings in shares of Silgan by 0.8% in the fourth quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company's stock valued at $1,290,000 after purchasing an additional 195 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in Silgan by 0.6% in the 4th 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 buying an additional 230 shares during the last quarter. Synovus Financial Corp lifted its position in shares of Silgan by 1.6% during the 4th quarter. Synovus Financial Corp now owns 22,721 shares of the industrial products company's stock worth $1,183,000 after buying an additional 368 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Silgan by 1.8% in the 4th quarter. LPL Financial LLC now owns 21,793 shares of the industrial products company's stock worth $1,134,000 after buying an additional 393 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in shares of 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 acquiring an additional 404 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SLGN. Robert W. Baird boosted their price objective on Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Raymond James upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and reduced their price target for the company from $65.00 to $60.00 in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their price objective on shares of Silgan from $53.00 to $57.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Bank of America boosted their target price on shares of Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, Truist Financial lowered their price target on shares of Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $62.78.

Silgan Price Performance

SLGN stock traded up $0.29 during mid-day trading on Monday, reaching $51.73. 702,194 shares of the company traded hands, compared to its average volume of 658,737. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. The company has a market capitalization of $5.53 billion, a P/E ratio of 20.05, a P/E/G 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. The company has a fifty day moving average price of $50.59 and a 200-day moving average price of $52.44.

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, topping 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, analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.20 dividend. This is a positive change from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Monday, March 17th. Silgan's dividend payout ratio is currently 31.01%.

Insider Buying and Selling at Silgan

In other news, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 227,332 shares in the company, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert B. Lewis sold 20,000 shares of the business's stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. 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.