Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its position in Silgan Holdings Inc. (NYSE:SLGN) by 1.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 49,933 shares of the industrial products company’s stock after acquiring an additional 695 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Silgan were worth $2,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in shares of Silgan by 764.7% in the fourth quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company’s stock valued at $52,708,000 after acquiring an additional 895,528 shares in the last quarter. FMR LLC boosted its holdings in Silgan by 12.2% during the fourth quarter. FMR LLC now owns 7,046,400 shares of the industrial products company’s stock worth $366,765,000 after buying an additional 767,944 shares in the last quarter. Norges Bank bought a new stake in Silgan during the fourth quarter worth approximately $38,680,000. JPMorgan Chase & Co. lifted its position in shares of Silgan by 12.8% in the 4th quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company’s stock valued at $301,670,000 after acquiring an additional 656,923 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Silgan by 87.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,253,727 shares of the industrial products company’s stock valued at $65,257,000 after acquiring an additional 584,840 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Insider Transactions at Silgan

In related news, EVP Robert B. Lewis sold 10,000 shares of Silgan stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $55.92, for a total transaction of $559,200.00. Following the completion of the transaction, the executive vice president now directly owns 153,378 shares of the company’s stock, valued at $8,576,897.76. This trade represents a 6.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total transaction of $128,530.90. Following the transaction, the vice president now directly owns 1,380 shares of the company’s stock, valued at $74,589. This represents a 63.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup increased their target price on shares of Silgan from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Truist Financial cut their target price on shares of Silgan from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Raymond James Financial upgraded shares of Silgan from an “outperform” rating to a “strong-buy” rating and cut their price target for the company from $65.00 to $60.00 in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price target on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $63.11.

Silgan Stock Performance

NYSE SLGN opened at $54.50 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.14 and a quick ratio of 0.67. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 1.22 and a beta of 0.76. The company’s fifty day moving average is $53.74 and its two-hundred day moving average is $52.59. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14.

Silgan (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. Silgan had a net margin of 4.82% and a return on equity of 20.00%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. Equities research analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Monday, June 2nd. Silgan’s payout ratio is 29.74%.

Silgan Company 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.