Rhumbline Advisers Purchases 2,463 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Rhumbline Advisers boosted its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 0.8% in the 4th quarter, HoldingsChannel reports. The firm owned 295,709 shares of the industrial products company’s stock after buying an additional 2,463 shares during the period. Rhumbline Advisers’ holdings in Silgan were worth $15,392,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its stake in shares of Silgan by 220.4% in the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 963 shares during the last quarter. KBC Group NV raised its stake in shares of Silgan by 27.7% in the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 494 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Silgan by 48.6% in the fourth quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock worth $137,000 after acquiring an additional 863 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Silgan in the third quarter worth about $154,000. Finally, Stifel Financial Corp bought a new position in shares of Silgan in the third quarter worth about $203,000. 70.25% of the stock is owned by institutional investors.

Silgan Stock Down 2.0 %

Shares of NYSE SLGN opened at $54.41 on Friday. The stock has a market cap of $5.81 billion, a P/E ratio of 21.09, a P/E/G ratio of 1.27 and a beta of 0.71. The firm has a 50 day moving average price of $52.96 and a 200 day moving average price of $52.56. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Analyst Ratings Changes

SLGN has been the subject of a number of research analyst reports. Loop Capital boosted their target price on shares of Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada lifted their price target on shares of Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company lifted their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Truist Financial reiterated a “buy” rating and set a $70.00 price target (up previously from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Silgan has an average rating of “Moderate Buy” and an average target price of $64.22.

Insider Activity

In other news, EVP Robert B. Lewis sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total value of $1,064,400.00. Following the completion of the transaction, the executive vice president now owns 152,133 shares in the company, valued at $8,096,518.26. This represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.39% of the company’s stock.

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.