Dean Investment Associates LLC Increases Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Dean Investment Associates LLC boosted its position in Silgan Holdings Inc. (NYSE:SLGN) by 26.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 90,664 shares of the industrial products company’s stock after purchasing an additional 19,233 shares during the period. Dean Investment Associates LLC owned about 0.08% of Silgan worth $4,719,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Bank of Jackson Hole Trust purchased a new position in Silgan in the fourth quarter valued at about $59,000. Smartleaf Asset Management LLC increased its holdings in Silgan by 1,229.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,906 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Silgan by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock worth $137,000 after acquiring an additional 863 shares in the last quarter. KBC Group NV raised its holdings in shares of Silgan by 52.5% in the 4th quarter. KBC Group NV now owns 3,473 shares of the industrial products company’s stock valued at $181,000 after acquiring an additional 1,196 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Silgan by 153.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 2,145 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Insider Transactions at Silgan

In other news, 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 completion of the transaction, the executive vice president now owns 152,133 shares of the company’s stock, valued at $8,096,518.26. The trade was a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SLGN shares. Raymond James raised their price objective on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Robert W. Baird upped their price objective on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Loop Capital boosted their target price on Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Bank of America upped their target price on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Truist Financial restated a “buy” rating and issued a $70.00 price objective (up from $69.00) on shares of Silgan in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Silgan Stock Performance

NYSE:SLGN opened at $48.94 on Thursday. 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 twelve month low of $41.14 and a twelve month high of $58.14. The stock has a market cap of $5.23 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. The firm’s fifty day simple moving average is $51.07 and its 200 day simple moving average is $52.47.

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, topping 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%. As a group, research analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 17th. This represents a $0.80 annualized dividend and a yield of 1.63%. This is a positive change from Silgan’s previous quarterly dividend of $0.19. Silgan’s dividend payout ratio (DPR) is currently 31.01%.

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.