Illinois Municipal Retirement Fund Purchases 8,472 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Illinois Municipal Retirement Fund raised its position in Silgan Holdings Inc. (NYSE:SLGN) by 30.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 36,750 shares of the industrial products company’s stock after buying an additional 8,472 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Silgan were worth $1,913,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Jackson Hole Trust bought a new stake in shares of Silgan during the 4th quarter valued at approximately $59,000. Venturi Wealth Management LLC grew its holdings in shares of Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 963 shares during the last quarter. KBC Group NV grew its holdings in shares of Silgan by 27.7% during the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 494 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Silgan by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock valued at $137,000 after purchasing an additional 863 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Silgan during the 3rd quarter valued at approximately $154,000. 70.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SLGN has been the topic of several research reports. Robert W. Baird lifted their price target on shares of Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Truist Financial reiterated a “buy” rating and set a $70.00 target price (up from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Wells Fargo & Company lifted their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Raymond James lifted their target price on shares of Silgan from $62.00 to $65.00 and gave the stock 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 assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Silgan Stock Up 1.3 %

Shares of NYSE SLGN opened at $54.28 on Friday. The company has a market capitalization of $5.80 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. 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 company’s 50 day moving average price is $53.13 and its 200-day moving average price is $52.73.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Monday, March 17th. This is an increase from Silgan’s previous quarterly dividend of $0.19. Silgan’s payout ratio is presently 29.46%.

Insider Activity at Silgan

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the completion of the sale, the executive vice president now owns 152,133 shares in the company, valued at approximately $8,096,518.26. The trade was a 11.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 227,332 shares of the company’s stock, valued at $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 owned by corporate insiders.

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.