Paralel Advisors LLC Has $2.69 Million Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Paralel Advisors LLC raised its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,703 shares of the industrial products company’s stock after acquiring an additional 4,696 shares during the period. Paralel Advisors LLC’s holdings in Silgan were worth $2,691,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. FMR LLC grew its position 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 acquired a new stake in Silgan during the 4th quarter worth about $38,680,000. JPMorgan Chase & Co. grew its stake 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 buying an additional 656,923 shares during the period. Vanguard Group Inc. lifted its position in Silgan by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company’s stock valued at $464,886,000 after acquiring an additional 455,381 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Silgan in the 4th quarter valued at about $11,419,000. 70.25% of the stock is currently owned by institutional investors.

Insider Transactions at Silgan

In related news, EVP Robert B. Lewis sold 20,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the completion of the sale, the executive vice president now directly owns 152,133 shares of the company’s stock, valued at $8,096,518.26. The trade was a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 227,332 shares of the company’s stock, valued at approximately $12,441,880.36. The trade was a 35.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Truist Financial reaffirmed a “buy” rating and issued a $70.00 price target (up previously from $69.00) on shares of Silgan in a report on Thursday, January 30th. Loop Capital upped their price target on shares of Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Raymond James raised their target price on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Bank of America raised their price target on shares of Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.22.

Silgan Stock Down 1.4 %

Shares of NYSE SLGN traded down $0.69 during midday trading on Thursday, hitting $47.99. The company’s stock had a trading volume of 6,631 shares, compared to its average volume of 646,417. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The business’s fifty day simple moving average is $51.63 and its two-hundred day simple moving average is $52.56. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 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%. On average, equities 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. Stockholders of record on Monday, March 17th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.67%. This is a boost from Silgan’s previous quarterly dividend of $0.19. Silgan’s payout ratio is presently 31.01%.

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.