Gotham Asset Management LLC Buys 24,676 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Gotham Asset Management LLC raised its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 90.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,944 shares of the industrial products company’s stock after purchasing an additional 24,676 shares during the period. Gotham Asset Management LLC’s holdings in Silgan were worth $2,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SLGN. GeoWealth Management LLC bought a new stake in Silgan during the 4th quarter worth approximately $56,000. Bank of Jackson Hole Trust bought a new position in shares of Silgan in the fourth quarter valued at $59,000. Smartleaf Asset Management LLC grew its stake in shares of Silgan by 1,229.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock valued at $107,000 after buying an additional 1,906 shares in the last quarter. KBC Group NV grew its stake in shares of Silgan by 52.5% in the fourth quarter. KBC Group NV now owns 3,473 shares of the industrial products company’s stock valued at $181,000 after buying an additional 1,196 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Silgan by 153.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company’s stock valued at $185,000 after purchasing an additional 2,145 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SLGN shares. Citigroup raised their price target on Silgan from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price target for the company in a research note on Thursday, May 1st. Raymond James upgraded Silgan from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Wells Fargo & Company boosted their price target on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Truist Financial reduced their price target on Silgan from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. One research 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.com, the company presently has a consensus rating of “Buy” and a consensus price target of $63.11.

Silgan Price Performance

Shares of SLGN opened at $54.85 on Friday. 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. The business’s 50 day moving average price is $50.70 and its two-hundred day moving average price is $52.64. The firm has a market cap of $5.87 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74.

Silgan (NYSE:SLGN) last announced 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. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. Silgan’s revenue was up 11.4% compared to the same quarter last year. On average, equities analysts anticipate 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 will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. Silgan’s dividend payout ratio (DPR) is presently 29.74%.

Insider Transactions at Silgan

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the sale, the chief executive officer now owns 227,332 shares of the company’s stock, valued at $12,441,880.36. This trade represents 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, VP B Frederik Prinzen sold 2,378 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the completion of the sale, the vice president now directly owns 1,380 shares in the company, valued at approximately $74,589. The trade was a 63.28% decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate insiders.

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.