SG Capital Management LLC Makes New Investment in Silgan Holdings Inc. (NYSE:SLGN)

SG Capital Management LLC purchased a new position in shares of Silgan Holdings Inc. (NYSE:SLGN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 176,769 shares of the industrial products company’s stock, valued at approximately $8,584,000. Silgan comprises 2.8% of SG Capital Management LLC’s holdings, making the stock its 14th biggest holding. SG Capital Management LLC owned approximately 0.17% of Silgan at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Verity Asset Management Inc. acquired a new position in Silgan during the first quarter worth approximately $220,000. Cetera Investment Advisers acquired a new position in Silgan during the first quarter worth approximately $6,352,000. Tidal Investments LLC acquired a new position in Silgan during the first quarter worth approximately $744,000. Janus Henderson Group PLC boosted its holdings in shares of Silgan by 95.6% during the first quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock worth $59,462,000 after acquiring an additional 598,472 shares during the period. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Silgan by 22.8% during the first quarter. Kennedy Capital Management LLC now owns 73,648 shares of the industrial products company’s stock worth $3,576,000 after acquiring an additional 13,692 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Insider Transactions at Silgan

In other news, SVP Jay A. Martin sold 21,330 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $46.73, for a total transaction of $996,750.90. Following the transaction, the senior vice president now owns 165,989 shares of the company’s stock, valued at approximately $7,756,665.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP B Frederik Prinzen sold 4,093 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $47.84, for a total value of $195,809.12. Following the transaction, the vice president now owns 4,520 shares of the company’s stock, valued at approximately $216,236.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jay A. Martin sold 21,330 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $46.73, for a total transaction of $996,750.90. Following the completion of the transaction, the senior vice president now directly owns 165,989 shares in the company, valued at approximately $7,756,665.97. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,651 shares of company stock worth $2,804,226. Corporate insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

SLGN has been the subject of a number of research analyst reports. Robert W. Baird boosted their price objective on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial reiterated a “buy” rating and issued a $59.00 price target (up from $56.00) on shares of Silgan in a research note on Thursday. StockNews.com upgraded Silgan from a “hold” rating to a “buy” rating in a research note on Saturday. Royal Bank of Canada boosted their price target on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $46.00 to $53.00 in a research note on Thursday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Silgan Price Performance

NYSE SLGN traded down $1.43 on Friday, hitting $51.26. 843,023 shares of the company’s stock were exchanged, compared to its average volume of 660,086. The stock has a 50-day moving average of $45.24 and a 200-day moving average of $45.52. The company has a current ratio of 0.53, a quick ratio of 0.62 and a debt-to-equity ratio of 1.33. Silgan Holdings Inc. has a 52 week low of $38.11 and a 52 week high of $52.84. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 1.77 and a beta of 0.67.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the company earned $0.83 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts expect that Silgan Holdings Inc. will post 3.66 earnings per share for the current year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.19 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.48%. Silgan’s dividend payout ratio (DPR) is presently 26.67%.

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.