Silgan Holdings Inc. (NYSE:SLGN) Holdings Boosted by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH raised its stake in Silgan Holdings Inc. (NYSE:SLGN) by 14.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 441,360 shares of the industrial products company’s stock after acquiring an additional 55,650 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.41% of Silgan worth $22,562,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in shares of Silgan in the 4th quarter worth about $873,000. Smartleaf Asset Management LLC grew its position in Silgan by 1,229.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 1,906 shares during the last quarter. Atria Investments Inc increased its stake in shares of Silgan by 9.2% in the fourth quarter. Atria Investments Inc now owns 5,067 shares of the industrial products company’s stock valued at $264,000 after purchasing an additional 427 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Silgan by 7.4% in the fourth quarter. Sanctuary Advisors LLC now owns 7,715 shares of the industrial products company’s stock valued at $433,000 after purchasing an additional 533 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Silgan by 8.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 50,457 shares of the industrial products company’s stock valued at $2,627,000 after buying an additional 4,030 shares during the last quarter. 70.25% of the stock is owned by institutional investors.

Silgan Trading Up 1.1%

Shares of SLGN stock opened at $55.13 on Friday. The stock has a 50-day simple moving average of $52.63 and a 200 day simple moving average of $52.76. The stock has a market capitalization of $5.90 billion, a P/E ratio of 21.37, a P/E/G ratio of 1.27 and a beta of 0.76. 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 quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. On average, sell-side analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.45%. Silgan’s dividend payout ratio (DPR) is presently 29.74%.

Analysts Set New Price Targets

SLGN has been the subject of a number of recent analyst reports. Raymond James raised 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. JPMorgan Chase & Co. upgraded Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price target for the company in a research report on Thursday, May 1st. 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. Finally, Truist Financial cut their price objective on shares of Silgan from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Silgan currently has a consensus rating of “Buy” and an average target price of $63.11.

Insider Transactions at Silgan

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

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.