Swiss National Bank Purchases 1,200 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Swiss National Bank grew its position in Silgan Holdings Inc. (NYSE:SLGN) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,000 shares of the industrial products company’s stock after acquiring an additional 1,200 shares during the quarter. Swiss National Bank owned 0.16% of Silgan worth $8,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Oddo BHF Asset Management Sas purchased a new position in shares of Silgan in the 3rd quarter worth approximately $2,975,000. BNP Paribas Financial Markets boosted its holdings in shares of Silgan by 144.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock worth $2,884,000 after purchasing an additional 32,432 shares during the period. Ritholtz Wealth Management purchased a new position in shares of Silgan in the 4th quarter worth approximately $620,000. Geode Capital Management LLC boosted its holdings in shares of Silgan by 11.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock worth $78,509,000 after purchasing an additional 157,160 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Silgan in the 4th quarter worth approximately $1,142,000. Institutional investors own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SLGN. JPMorgan Chase & Co. lifted their target price on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Loop Capital lifted their target price on Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. 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. Robert W. Baird boosted their price objective on Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Bank of America boosted their price objective on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Silgan currently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Silgan Stock Down 1.4 %

Silgan stock opened at $49.63 on Friday. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two 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 has a market cap of $5.30 billion, a PE ratio of 19.23, a PEG ratio of 1.27 and a beta of 0.71. The business’s 50-day simple moving average is $52.81 and its two-hundred day simple moving average is $52.72.

Silgan (NYSE:SLGN) last issued its quarterly earnings results 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 return on equity of 19.70% and a net margin of 4.72%. Equities analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Increases Dividend

The firm 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 represents a $0.80 annualized dividend and a yield of 1.61%. This is a positive change from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 17th. Silgan’s dividend payout ratio is presently 31.01%.

Insider Buying and Selling

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the sale, the chief executive officer now directly owns 227,332 shares in the company, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the executive vice president now owns 152,133 shares in the company, valued at $8,096,518.26. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

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.