JLB & Associates Inc. Trims Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

JLB & Associates Inc. reduced its position in Silgan Holdings Inc. (NYSE:SLGN) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,487 shares of the industrial products company’s stock after selling 735 shares during the quarter. JLB & Associates Inc. owned about 0.06% of Silgan worth $3,096,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. FMR LLC raised its stake in Silgan by 87.7% during the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock valued at $329,619,000 after acquiring an additional 2,932,680 shares during the last quarter. Weiss Asset Management LP acquired a new position in shares of Silgan in the third quarter valued at approximately $11,422,000. Two Sigma Advisers LP raised its stake in shares of Silgan by 202.3% during the third quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company’s stock worth $13,015,000 after purchasing an additional 165,900 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Silgan by 11.7% during the third 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, Charles Schwab Investment Management Inc. grew its position in Silgan by 13.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 815,468 shares of the industrial products company’s stock valued at $42,812,000 after buying an additional 97,381 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Silgan

In other news, EVP Robert B. Lewis sold 20,000 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 152,133 shares of the company’s stock, 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 through the SEC website. Insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

SLGN has been the subject of a number of analyst reports. Truist Financial restated a “buy” rating and set a $70.00 price objective (up previously from $69.00) on shares of Silgan in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Royal Bank of Canada lifted their price objective on Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Raymond James increased their target price on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company raised their target price on Silgan from $58.00 to $63.00 and gave the company an “overweight” 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. According to MarketBeat.com, Silgan has a consensus rating of “Moderate Buy” and an average price target of $64.22.

Silgan Stock Up 1.3 %

SLGN opened at $55.47 on Friday. Silgan Holdings Inc. has a one year low of $41.14 and a one year high of $58.14. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.25 and a beta of 0.71. The business’s fifty day moving average is $52.97 and its two-hundred day moving average is $52.49. 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 (NYSE:SLGN) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. Analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

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.