Natixis Advisors LLC Grows Stake in Silgan Holdings Inc. (NYSE:SLGN)

Natixis Advisors LLC raised its stake in Silgan Holdings Inc. (NYSE:SLGN) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,498 shares of the industrial products company’s stock after acquiring an additional 2,427 shares during the period. Natixis Advisors LLC’s holdings in Silgan were worth $2,472,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vestcor Inc purchased a new stake in shares of Silgan in the fourth quarter worth $429,000. Swiss National Bank grew its stake in shares of Silgan by 0.7% in the fourth quarter. Swiss National Bank now owns 168,000 shares of the industrial products company’s stock worth $8,744,000 after acquiring an additional 1,200 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Silgan by 2.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 40,052 shares of the industrial products company’s stock worth $2,085,000 after acquiring an additional 1,019 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Silgan in the fourth quarter worth $1,054,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Silgan during the fourth quarter valued at $11,419,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on SLGN. Bank of America increased their price objective on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Robert W. Baird increased their price objective on Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company increased their price objective on Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Truist Financial reaffirmed a “buy” rating and set a $70.00 price objective (up from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $64.22.

Insider Transactions at Silgan

In related news, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the sale, the executive vice president now owns 152,133 shares of the company’s stock, valued at approximately $8,096,518.26. This trade represents a 11.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $54.73, for a total value 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

Silgan Stock Down 1.4 %

SLGN stock opened at $49.63 on Monday. The business’s 50-day moving average is $52.81 and its two-hundred day moving average is $52.75. 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 Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.27 and a beta of 0.71.

Silgan (NYSE:SLGN) last posted 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 return on equity of 19.70% and a net margin of 4.72%. As a group, analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.80 annualized dividend and a dividend yield of 1.61%. This is an increase from Silgan’s previous quarterly dividend of $0.19. Silgan’s dividend payout ratio (DPR) is 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.