Silgan Holdings Inc. (NYSE:SLGN) Shares Purchased by South Dakota Investment Council

South Dakota Investment Council lifted its position in Silgan Holdings Inc. (NYSE:SLGN) by 130.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,700 shares of the industrial products company’s stock after purchasing an additional 8,900 shares during the quarter. South Dakota Investment Council’s holdings in Silgan were worth $710,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in Silgan by 3.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,323,963 shares of the industrial products company’s stock valued at $105,159,000 after acquiring an additional 66,837 shares during the last quarter. Barclays PLC raised its stake in Silgan by 203.9% during the 3rd quarter. Barclays PLC now owns 118,564 shares of the industrial products company’s stock valued at $5,109,000 after acquiring an additional 79,551 shares during the last quarter. Quent Capital LLC raised its stake in shares of 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 buying an additional 505 shares in the last quarter. Robeco Schweiz AG raised its stake in shares of Silgan by 24.5% during the 3rd quarter. Robeco Schweiz AG now owns 132,000 shares of the industrial products company’s stock worth $5,691,000 after buying an additional 26,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Silgan by 9.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 132,550 shares of the industrial products company’s stock worth $5,714,000 after buying an additional 11,669 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Stock Down 0.5 %

Shares of NYSE SLGN opened at $47.07 on Friday. Silgan Holdings Inc. has a 1 year low of $38.11 and a 1 year high of $52.43. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 2.58 and a beta of 0.68. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.61 and a current ratio of 1.02. The stock’s 50-day simple moving average is $45.88 and its 200-day simple moving average is $43.95.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Silgan had a return on equity of 20.29% and a net margin of 5.44%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.39 billion. As a group, equities analysts anticipate that Silgan Holdings Inc. will post 3.67 earnings per share for the current fiscal year.

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.61%. This is an increase from Silgan’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, March 13th. Silgan’s dividend payout ratio (DPR) is 25.50%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SLGN shares. Truist Financial increased their target price on Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Raymond James increased 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. Wells Fargo & Company raised their price objective on Silgan from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Citigroup increased their target price on Silgan from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Finally, JPMorgan Chase & Co. increased their target price on Silgan from $39.00 to $46.00 and gave the stock an “underweight” 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Silgan has a consensus rating of “Moderate Buy” and a consensus price target of $53.13.

Silgan 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.