Keybank National Association OH Buys 411 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Keybank National Association OH lifted its stake in Silgan Holdings Inc. (NYSE:SLGN) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,678 shares of the industrial products company’s stock after purchasing an additional 411 shares during the period. Keybank National Association OH’s holdings in Silgan were worth $660,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Silgan by 7.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 361 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Silgan by 17.1% during the 3rd quarter. QRG Capital Management Inc. now owns 26,273 shares of the industrial products company’s stock worth $1,379,000 after acquiring an additional 3,832 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in Silgan by 5.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock worth $390,000 after acquiring an additional 388 shares in the last quarter. Atria Investments Inc bought a new position in Silgan during the 3rd quarter worth about $244,000. Finally, Venturi Wealth Management LLC grew its holdings in Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 963 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Insider Activity at Silgan

In related news, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were 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 approximately $8,096,518.26. This represents a 11.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 227,332 shares in the company, valued at approximately $12,441,880.36. This trade represents a 35.48 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by insiders.

Silgan Stock Performance

SLGN stock opened at $53.08 on Friday. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.27 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. The firm has a 50-day simple moving average of $53.07 and a two-hundred day simple moving average of $52.83. Silgan Holdings Inc. has a one year low of $41.14 and a one year high of $58.14.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. On average, equities analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.20 dividend. This is a positive change from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, March 17th. Silgan’s dividend payout ratio (DPR) is presently 31.01%.

Analyst Upgrades and Downgrades

SLGN has been the topic of several recent research reports. Truist Financial reiterated a “buy” rating and set a $70.00 target price (up from $69.00) on shares of Silgan in a report on Thursday, January 30th. Robert W. Baird increased their target price on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Bank of America increased their target price on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Raymond James increased their price target on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.22.

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.