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

Keybank National Association OH boosted its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,678 shares of the industrial products company’s stock after buying an additional 411 shares during the quarter. Keybank National Association OH’s holdings in Silgan were worth $660,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SLGN. Bank of Jackson Hole Trust bought a new stake in Silgan during the fourth quarter valued at approximately $59,000. Venturi Wealth Management LLC lifted its holdings in Silgan by 220.4% during the third 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 in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Silgan by 1,229.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 1,906 shares in the last quarter. KBC Group NV lifted its holdings in Silgan by 27.7% during the third 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 in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Silgan by 48.6% during the fourth 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 in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Silgan Price Performance

Silgan stock opened at $53.08 on Friday. The company 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 firm’s fifty day moving average is $53.07 and its 200 day moving average is $52.83. 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 Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14.

Silgan (NYSE:SLGN) last released its quarterly 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%. Sell-side analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.20 per share. This is an increase from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. Silgan’s dividend payout ratio is presently 31.01%.

Wall Street Analysts Forecast Growth

SLGN has been the topic of several analyst reports. Raymond James lifted their price target on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Loop Capital lifted their price target on shares of Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Truist Financial reaffirmed a “buy” rating and set a $70.00 price target (up previously from $69.00) on shares of Silgan in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada boosted their target price on shares of Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two 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, Silgan has a consensus rating of “Moderate Buy” and an average target price of $64.22.

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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, the chief executive officer now owns 227,332 shares in the company, 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 insiders.

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.