Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by Swiss National Bank

Swiss National Bank boosted its stake in Silgan Holdings Inc. (NYSE:SLGN) by 0.7% in the 4th quarter, Holdings Channel reports. The firm owned 168,000 shares of the industrial products company’s stock after buying an additional 1,200 shares during the quarter. Swiss National Bank’s holdings in Silgan were worth $8,744,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new stake in Silgan in the third quarter valued at about $2,975,000. BNP Paribas Financial Markets increased its stake in Silgan by 144.1% during the third quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock valued at $2,884,000 after purchasing an additional 32,432 shares during the last quarter. Ritholtz Wealth Management bought a new stake in Silgan in the fourth quarter valued at $620,000. Geode Capital Management LLC boosted its position in Silgan by 11.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock worth $78,509,000 after acquiring an additional 157,160 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Silgan during the 4th quarter worth $1,142,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Silgan Trading Down 1.4 %

SLGN stock opened at $49.63 on Friday. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.27 and a beta of 0.71. 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 business has a fifty day moving average price of $52.81 and a 200 day moving average price of $52.72. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14.

Silgan (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. Analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.61%. This is a boost from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 17th. Silgan’s dividend payout ratio is presently 31.01%.

Insider Buying and Selling

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the transaction, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 152,133 shares in the company, valued at $8,096,518.26. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Raymond James upped their price target on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Truist Financial restated a “buy” rating and set a $70.00 target price (up previously from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Loop Capital upped their price target on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Robert W. Baird increased their target price on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.22.

About Silgan

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.