Alpine Global Management LLC Takes Position in Silgan Holdings Inc. (NYSE:SLGN)

Alpine Global Management LLC bought a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN) during the 4th quarter, Holdings Channel reports. The firm bought 15,370 shares of the industrial products company’s stock, valued at approximately $800,000.

Several other institutional investors and hedge funds also recently modified their holdings of SLGN. Vanguard Group Inc. lifted its stake in shares of Silgan by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company’s stock worth $464,886,000 after acquiring an additional 455,381 shares during the period. FMR LLC raised its position in Silgan by 12.2% in the fourth quarter. FMR LLC now owns 7,046,400 shares of the industrial products company’s stock worth $366,765,000 after acquiring an additional 767,944 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in 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 during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Silgan by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,062,013 shares of the industrial products company’s stock worth $159,377,000 after purchasing an additional 11,836 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Silgan by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,140,028 shares of the industrial products company’s stock valued at $111,388,000 after purchasing an additional 9,532 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Silgan Price Performance

NYSE SLGN opened at $48.89 on Tuesday. The company has a market cap of $5.22 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.27 and a beta of 0.81. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $50.85 and a 200 day simple moving average of $52.43.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. On average, sell-side analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.20 dividend. This is a boost from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.64%. The ex-dividend date was Monday, March 17th. Silgan’s dividend payout ratio (DPR) is 31.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Loop Capital raised their price objective on Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Bank of America boosted their price objective on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. lifted their target price 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. Raymond James raised their target price on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Truist Financial reaffirmed a “buy” rating and set a $70.00 target price (up previously from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Silgan has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Insider Buying and Selling at Silgan

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $54.73, for a total value of $6,841,250.00. Following the transaction, the chief executive officer now directly owns 227,332 shares in the company, valued at $12,441,880.36. The trade was a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 152,133 shares of the company’s stock, valued at $8,096,518.26. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Silgan 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.