9,248 Shares in Silgan Holdings Inc. (NYSE:SLGN) Purchased by Wright Investors Service Inc.

Wright Investors Service Inc. purchased a new position in Silgan Holdings Inc. (NYSE:SLGN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,248 shares of the industrial products company’s stock, valued at approximately $473,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLGN. Millennium Management LLC lifted its holdings in Silgan by 764.7% during the fourth quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company’s stock valued at $52,708,000 after purchasing an additional 895,528 shares during the last quarter. FMR LLC lifted its holdings in Silgan by 12.2% during the fourth quarter. FMR LLC now owns 7,046,400 shares of the industrial products company’s stock valued at $366,765,000 after purchasing an additional 767,944 shares during the last quarter. Norges Bank purchased a new stake in Silgan during the fourth quarter valued at about $38,680,000. JPMorgan Chase & Co. lifted its holdings in Silgan by 12.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company’s stock valued at $301,670,000 after purchasing an additional 656,923 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Silgan by 87.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,253,727 shares of the industrial products company’s stock valued at $65,257,000 after purchasing an additional 584,840 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Silgan Trading Up 0.1%

Shares of SLGN opened at $55.12 on Friday. The business’s 50-day moving average price is $51.88 and its 200-day moving average price is $52.79. Silgan Holdings Inc. has a twelve month low of $41.14 and a twelve month high of $58.14. The stock has a market cap of $5.90 billion, a PE ratio of 21.36, a P/E/G ratio of 1.27 and a beta of 0.74. 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 announced its quarterly earnings results 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 firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. On average, equities analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SLGN shares. JPMorgan Chase & Co. raised shares of Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price objective on the stock in a report on Thursday, May 1st. Citigroup upped their price objective on shares of Silgan from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Raymond James raised shares of Silgan from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $65.00 to $60.00 in a report on Tuesday, April 22nd. Finally, Truist Financial decreased their price target on Silgan from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. One research 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. According to MarketBeat.com, Silgan presently has a consensus rating of “Buy” and an average target price 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.