Versor Investments LP Grows Stake in Silgan Holdings Inc. (NYSE:SLGN)

Versor Investments LP raised its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 55.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,908 shares of the industrial products company’s stock after purchasing an additional 5,700 shares during the period. Versor Investments LP’s holdings in Silgan were worth $828,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in SLGN. Raymond James & Associates raised its holdings in shares of Silgan by 26.6% in the third quarter. Raymond James & Associates now owns 45,134 shares of the industrial products company’s stock valued at $2,370,000 after acquiring an additional 9,470 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Silgan by 7.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 361 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Silgan by 7.6% in the 3rd quarter. New York State Teachers Retirement System now owns 106,539 shares of the industrial products company’s stock worth $5,593,000 after purchasing an additional 7,480 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Silgan by 17.1% during the third quarter. QRG Capital Management Inc. now owns 26,273 shares of the industrial products company’s stock valued at $1,379,000 after purchasing an additional 3,832 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its holdings in Silgan by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock valued at $390,000 after buying an additional 388 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SLGN. Bank of America upped their target price on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. upped their price objective on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Truist Financial reiterated a “buy” rating and issued a $70.00 target price (up previously from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Royal Bank of Canada increased their price target on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Silgan has a consensus rating of “Moderate Buy” and an average target price of $64.22.

Silgan Price Performance

NYSE SLGN opened at $53.67 on Friday. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 1.27 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. The stock’s fifty day moving average price is $53.09 and its 200 day moving average price is $52.69. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14.

Silgan (NYSE:SLGN) last announced 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, equities research analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The firm 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 $0.20 dividend. This is an increase from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, March 17th. Silgan’s dividend payout ratio is 29.46%.

Insider Transactions at Silgan

In related news, CEO Adam J. Greenlee sold 125,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was 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 of the company’s stock, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were 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 disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

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.