Silgan Holdings Inc. (NYSE:SLGN) Stock Holdings Lifted by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lifted its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,100 shares of the industrial products company’s stock after acquiring an additional 900 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Silgan were worth $786,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of Silgan by 174.3% in the fourth quarter. American Century Companies Inc. now owns 16,269 shares of the industrial products company’s stock worth $847,000 after buying an additional 10,338 shares during the period. Teacher Retirement System of Texas boosted its stake in Silgan by 70.8% in the 4th quarter. Teacher Retirement System of Texas now owns 78,032 shares of the industrial products company’s stock worth $4,062,000 after purchasing an additional 32,335 shares during the period. Xponance Inc. boosted its stake in Silgan by 6.6% in the 4th quarter. Xponance Inc. now owns 9,370 shares of the industrial products company’s stock worth $488,000 after purchasing an additional 579 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Silgan by 10.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,822 shares of the industrial products company’s stock worth $511,000 after purchasing an additional 920 shares in the last quarter. Finally, Natixis Advisors LLC raised its stake in Silgan by 5.4% during the 4th quarter. Natixis Advisors LLC now owns 47,498 shares of the industrial products company’s stock valued at $2,472,000 after purchasing an additional 2,427 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the sale, the chief executive officer now directly owns 227,332 shares in the company, valued at $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction dated 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

Silgan Price Performance

NYSE SLGN opened at $49.63 on Monday. The company has a 50 day moving average price of $52.81 and a two-hundred day moving average price of $52.75. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. The stock has a market capitalization of $5.30 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. 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 issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. As a group, equities analysts predict that Silgan Holdings Inc. will post 4.11 earnings per share 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 paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.61%. This is an increase 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 (DPR) is presently 31.01%.

Analysts Set New Price Targets

SLGN has been the subject of several recent analyst reports. Raymond James raised their target price on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Bank of America raised their price objective on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Truist Financial reiterated a “buy” rating and issued a $70.00 target price (up previously from $69.00) on shares of Silgan in a report on Thursday, January 30th. Loop Capital raised their price target on shares of Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada boosted their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $64.22.

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.