8,249 Shares in Silgan Holdings Inc. (NYSE:SLGN) Purchased by Vestcor Inc

Vestcor Inc acquired a new stake in Silgan Holdings Inc. (NYSE:SLGN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,249 shares of the industrial products company’s stock, valued at approximately $429,000.

Other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank boosted its position in shares of Silgan by 0.7% during the 4th quarter. Swiss National Bank now owns 168,000 shares of the industrial products company’s stock worth $8,744,000 after purchasing an additional 1,200 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Silgan by 2.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 40,052 shares of the industrial products company’s stock valued at $2,085,000 after purchasing an additional 1,019 shares during the period. Edgestream Partners L.P. purchased a new stake in Silgan during the fourth quarter worth about $1,054,000. Raymond James Financial Inc. acquired a new position in Silgan during the fourth quarter worth about $11,419,000. Finally, Arizona State Retirement System increased its holdings in Silgan by 0.8% in the fourth quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company’s stock valued at $1,290,000 after buying an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SLGN. JPMorgan Chase & Co. upped their price target on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Loop Capital upped their target price on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Truist Financial reiterated a “buy” rating and issued a $70.00 price objective (up from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Wells Fargo & Company raised their target price on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Bank of America upped their price target on shares of Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Silgan has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Insider Buying and Selling

In related news, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction on 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 transaction, the executive vice president now owns 152,133 shares in the company, valued at approximately $8,096,518.26. This trade represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of the company’s stock in a transaction dated 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 owns 227,332 shares of the company’s stock, valued at $12,441,880.36. This represents a 35.48 % 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 Stock Up 0.4 %

Shares of NYSE SLGN opened at $49.83 on Tuesday. The firm has a market cap of $5.32 billion, a P/E ratio of 19.31, a price-to-earnings-growth 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. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The firm’s 50 day moving average price is $52.89 and its 200 day moving average price is $52.80.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. As a group, sell-side analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.20 per share. 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 1.61%. The ex-dividend date is Monday, March 17th. Silgan’s dividend payout ratio is presently 31.01%.

About Silgan

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.