Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 33.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 210,066 shares of the industrial products company’s stock after buying an additional 52,146 shares during the quarter. New York State Common Retirement Fund owned approximately 0.19% of Silgan worth $9,505,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Quent Capital LLC grew its holdings in Silgan by 94.9% during the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 505 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Silgan by 92.4% during the third quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 538 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Silgan in the third quarter valued at $70,000. Blue Trust Inc. lifted its holdings in Silgan by 4,440.4% during the 4th quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock worth $91,000 after buying an additional 2,087 shares during the last quarter. Finally, Corton Capital Inc. acquired a new position in shares of Silgan during the 3rd quarter worth about $256,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Price Performance

Shares of NYSE:SLGN opened at $44.72 on Thursday. Silgan Holdings Inc. has a one year low of $38.11 and a one year high of $49.72. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.58 and a beta of 0.68. The company has a 50-day simple moving average of $46.06 and a 200-day simple moving average of $44.11. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.61 and a current ratio of 1.02.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Silgan had a return on equity of 20.29% and a net margin of 5.44%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.39 billion. On average, analysts predict that Silgan Holdings Inc. will post 3.67 EPS for the current year.

Silgan Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 1.70%. Silgan’s dividend payout ratio (DPR) is currently 25.50%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SLGN. Royal Bank of Canada raised their target price on Silgan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Wells Fargo & Company upped their target price on shares of Silgan from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Truist Financial lifted their price target on shares of Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. JPMorgan Chase & Co. raised their price objective on Silgan from $39.00 to $46.00 and gave the stock an “underweight” rating in a report on Thursday, February 1st. Finally, Raymond James boosted their target price on Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Silgan currently has a consensus rating of “Moderate Buy” and an average price target of $53.13.

Insider Activity at Silgan

In other news, VP B Frederik Prinzen sold 4,684 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $43.89, for a total value of $205,580.76. Following the completion of the sale, the vice president now owns 8,613 shares in the company, valued at approximately $378,024.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.08% of the stock is currently owned by insiders.

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.