Blue Trust Inc. Acquires 2,087 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Blue Trust Inc. increased its holdings in Silgan Holdings Inc. (NYSE:SLGNFree Report) by 4,440.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,134 shares of the industrial products company’s stock after buying an additional 2,087 shares during the period. Blue Trust Inc.’s holdings in Silgan were worth $91,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Eagle Bay Advisors LLC lifted its stake in Silgan by 151.1% in the 2nd quarter. Eagle Bay Advisors LLC now owns 836 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 503 shares in the last quarter. Fifth Third Bancorp lifted its stake in Silgan by 92.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 538 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Silgan in the 3rd quarter worth approximately $70,000. State of Wyoming lifted its stake in Silgan by 30.4% in the 2nd quarter. State of Wyoming now owns 1,635 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 381 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in Silgan by 65.2% in the 1st quarter. Captrust Financial Advisors now owns 1,895 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 748 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on SLGN. JPMorgan Chase & Co. increased their target price on shares of Silgan from $39.00 to $46.00 and gave the stock an “underweight” rating in a research note on Thursday, February 1st. Citigroup raised their price objective on shares of Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Royal Bank of Canada raised their price objective on shares of Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Truist Financial raised their price objective on shares of Silgan from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, Raymond James raised their price objective on shares of Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.75.

Check Out Our Latest Analysis on Silgan

Insider Buying and Selling

In other Silgan news, VP B Frederik Prinzen sold 4,684 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $43.89, for a total value of $205,580.76. Following the sale, the vice president now owns 8,613 shares of the company’s stock, valued at approximately $378,024.57. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.08% of the stock is owned by corporate insiders.

Silgan Price Performance

Shares of NYSE:SLGN opened at $47.97 on Thursday. The stock has a market cap of $5.12 billion, a PE ratio of 16.10, a PEG ratio of 2.65 and a beta of 0.68. The company’s fifty day moving average is $44.90 and its 200 day moving average is $43.43. Silgan Holdings Inc. has a 52 week low of $38.11 and a 52 week high of $54.92. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 1.35.

Silgan (NYSE:SLGNGet Free Report) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Silgan had a net margin of 5.44% and a return on equity of 20.29%. Research analysts anticipate that Silgan Holdings Inc. will post 3.67 earnings per share for the current year.

Silgan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from Silgan’s previous quarterly dividend of $0.18. Silgan’s dividend payout ratio (DPR) is presently 25.50%.

About Silgan

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Silgan (NYSE:SLGN)

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