Linden Thomas Advisory Services LLC Boosts Stake in Silgan Holdings Inc. (NYSE:SLGN)

Linden Thomas Advisory Services LLC boosted its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,139 shares of the industrial products company’s stock after purchasing an additional 1,265 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Silgan were worth $595,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New York State Common Retirement Fund boosted its holdings in Silgan by 33.0% in the 4th quarter. New York State Common Retirement Fund now owns 210,066 shares of the industrial products company’s stock valued at $9,505,000 after purchasing an additional 52,146 shares in the last quarter. California Public Employees Retirement System increased its stake in Silgan by 4.1% in the 4th quarter. California Public Employees Retirement System now owns 367,118 shares of the industrial products company’s stock valued at $16,612,000 after purchasing an additional 14,575 shares in the last quarter. Duality Advisers LP acquired a new position in Silgan during the fourth quarter worth $491,000. Verdence Capital Advisors LLC purchased a new stake in Silgan during the fourth quarter worth $303,000. Finally, Daiwa Securities Group Inc. grew its holdings in Silgan by 76.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 64,830 shares of the industrial products company’s stock valued at $2,934,000 after purchasing an additional 28,130 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Silgan from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Truist Financial lifted their price objective on Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Citigroup increased their target price on Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. boosted their price target on Silgan from $39.00 to $46.00 and gave the stock an “underweight” rating in a report on Thursday, February 1st. Finally, Royal Bank of Canada upped their price objective on Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.13.

Insider Transactions at Silgan

In related news, VP B Frederik Prinzen sold 4,684 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $43.89, for a total transaction of $205,580.76. Following the completion of the sale, the vice president now directly owns 8,613 shares of the company’s stock, valued at approximately $378,024.57. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 13.08% of the company’s stock.

Silgan Stock Performance

Shares of SLGN stock opened at $47.07 on Friday. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68. The company has a 50 day moving average price of $45.88 and a 200 day moving average price of $43.95. Silgan Holdings Inc. has a one year low of $38.11 and a one year high of $52.43. 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 issued its earnings results on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Silgan had a return on equity of 20.29% and a net margin of 5.44%. Sell-side analysts anticipate that Silgan Holdings Inc. will post 3.67 EPS for the current year.

Silgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.19 per share. This is an increase from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 13th. Silgan’s payout ratio is currently 25.50%.

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.