Verdence Capital Advisors LLC Purchases New Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Verdence Capital Advisors LLC purchased a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,707 shares of the industrial products company’s stock, valued at approximately $303,000.

Other large investors have also recently bought and sold shares of the company. Quent Capital LLC boosted its position in Silgan by 94.9% during the fourth quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 505 shares during the last quarter. Fifth Third Bancorp raised its stake in Silgan by 92.4% in the third quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock valued at $48,000 after buying an additional 538 shares during the period. Headlands Technologies LLC bought a new stake in Silgan in the third quarter valued at approximately $70,000. Blue Trust Inc. raised its stake in Silgan by 4,440.4% in the fourth quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock valued at $91,000 after buying an additional 2,087 shares during the period. Finally, Corton Capital Inc. bought a new stake in Silgan in the third quarter valued at approximately $256,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SLGN. Royal Bank of Canada upped their price objective on Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. upped their price objective on Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday, February 1st. Truist Financial upped their price objective on Silgan from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Wells Fargo & Company increased their target price on Silgan from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Raymond James increased their target price on Silgan from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Silgan presently has a consensus rating of “Moderate Buy” and an average target price of $53.13.

Insiders Place Their Bets

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 stock was 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 document filed with the SEC, which is available at the SEC website. Corporate insiders own 13.08% of the company’s stock.

Silgan Price Performance

Silgan stock opened at $47.23 on Wednesday. The stock’s fifty day moving average price is $45.77 and its two-hundred day moving average price is $43.91. Silgan Holdings Inc. has a one year low of $38.11 and a one year high of $54.92. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.02 and a quick ratio of 0.61. The firm has a market cap of $5.04 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 2.56 and a beta of 0.68.

Silgan (NYSE:SLGN) last posted its quarterly earnings data 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. Silgan had a return on equity of 20.29% and a net margin of 5.44%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.39 billion. As a group, research analysts expect that Silgan Holdings Inc. will post 3.67 EPS for the current fiscal year.

Silgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from Silgan’s previous quarterly dividend of $0.18. Silgan’s dividend payout ratio (DPR) is 25.50%.

About Silgan

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.