Comerica Bank Buys 8,181 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Comerica Bank raised its stake in Silgan Holdings Inc. (NYSE:SLGN) by 22.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,809 shares of the industrial products company’s stock after buying an additional 8,181 shares during the period. Comerica Bank’s holdings in Silgan were worth $2,332,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC raised its position in Silgan by 23.6% in the 3rd quarter. Barclays PLC now owns 57,327 shares of the industrial products company’s stock worth $3,010,000 after purchasing an additional 10,936 shares during the period. GAMMA Investing LLC lifted its stake in shares of Silgan by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 863 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Silgan in the 4th quarter valued at about $1,142,000. Ritholtz Wealth Management purchased a new stake in Silgan during the 4th quarter valued at about $620,000. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in Silgan by 5.2% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 385,710 shares of the industrial products company’s stock worth $20,076,000 after purchasing an additional 19,080 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Insider Transactions at Silgan

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the transaction, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. The trade was a 35.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction dated 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 approximately $8,096,518.26. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,378 shares of company stock worth $8,034,181. 1.39% of the stock is currently owned by insiders.

Silgan Stock Down 0.0 %

SLGN opened at $53.83 on Friday. The company has a fifty day moving average of $50.45 and a two-hundred day moving average of $52.53. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.27 and a beta of 0.74. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. 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 (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company earned $0.69 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, research analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, June 2nd. Silgan’s dividend payout ratio (DPR) is 29.74%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SLGN shares. Robert W. Baird upped their price objective on shares of Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Loop Capital lifted their price objective on Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Citigroup upped their target price on Silgan from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company raised their price target on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Raymond James upgraded shares of Silgan from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $63.11.

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.