State of New Jersey Common Pension Fund D Raises Holdings in Silgan Holdings Inc. (NYSE:SLGN)

State of New Jersey Common Pension Fund D boosted its stake in Silgan Holdings Inc. (NYSE:SLGN) by 14.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,022 shares of the industrial products company’s stock after purchasing an additional 7,770 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of Silgan worth $2,761,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Silgan by 20.9% in the third quarter. JPMorgan Chase & Co. now owns 6,053,086 shares of the industrial products company’s stock worth $260,949,000 after purchasing an additional 1,047,558 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Silgan by 43.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,220,003 shares of the industrial products company’s stock worth $181,924,000 after buying an additional 1,269,349 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Silgan by 3.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,323,963 shares of the industrial products company’s stock valued at $105,159,000 after buying an additional 66,837 shares during the period. Boston Trust Walden Corp raised its holdings in shares of Silgan by 0.7% during the fourth quarter. Boston Trust Walden Corp now owns 1,566,448 shares of the industrial products company’s stock valued at $70,882,000 after acquiring an additional 10,532 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in Silgan by 9.9% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,269,176 shares of the industrial products company’s stock worth $54,714,000 after acquiring an additional 114,849 shares during the period. Institutional investors own 70.25% of the company’s stock.

Silgan Stock Performance

Silgan stock opened at $47.33 on Tuesday. Silgan Holdings Inc. has a twelve month low of $38.11 and a twelve month high of $50.18. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $5.05 billion, a P/E ratio of 15.88, a PEG ratio of 2.56 and a beta of 0.68. The stock’s 50 day moving average is $46.01 and its 200 day moving average is $44.07.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, January 31st. The industrial products company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.39 billion. Silgan had a return on equity of 20.29% and a net margin of 5.44%. On average, equities research analysts predict that Silgan Holdings Inc. will post 3.67 earnings per share for the current fiscal year.

Silgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.19 dividend. The ex-dividend date was Wednesday, March 13th. This is a boost from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 1.61%. Silgan’s dividend payout ratio is 25.50%.

Insider Activity at Silgan

In other news, VP B Frederik Prinzen sold 4,684 shares of Silgan stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 8,613 shares in the company, valued at $378,024.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

SLGN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a research report on Thursday, February 1st. Wells Fargo & Company increased their price target on shares of Silgan from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Truist Financial lifted their price objective on Silgan from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Royal Bank of Canada increased their target price on Silgan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Raymond James lifted their price target on 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 five have issued a buy rating to the stock. According to data from MarketBeat.com, Silgan currently has an average rating of “Moderate Buy” and a consensus price target of $53.13.

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.