Envestnet Portfolio Solutions Inc. Buys 920 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Envestnet Portfolio Solutions Inc. raised its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,822 shares of the industrial products company’s stock after acquiring an additional 920 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Silgan were worth $511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SLGN. Oddo BHF Asset Management Sas acquired a new stake in Silgan during the 3rd quarter worth approximately $2,975,000. BNP Paribas Financial Markets increased its position in Silgan by 144.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock worth $2,884,000 after buying an additional 32,432 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of Silgan during the fourth quarter worth $620,000. Geode Capital Management LLC boosted its position in shares of Silgan by 11.7% in the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock valued at $78,509,000 after acquiring an additional 157,160 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Silgan in the fourth quarter valued at about $1,142,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Price Performance

Silgan stock opened at $50.02 on Wednesday. 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 52 week low of $41.14 and a 52 week high of $58.14. The stock has a market capitalization of $5.34 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. The stock has a fifty day moving average of $52.75 and a 200-day moving average of $52.74.

Silgan (NYSE:SLGN) last issued its earnings results 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%. On average, sell-side analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.60%. This is a positive change from Silgan’s previous quarterly dividend of $0.19. Silgan’s dividend payout ratio (DPR) is currently 31.01%.

Insiders Place Their Bets

In related news, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction that occurred on Thursday, February 13th. The shares were 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 directly owns 152,133 shares in the company, valued at $8,096,518.26. This trade represents a 11.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $12,441,880.36. The trade was 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.

Analyst Upgrades and Downgrades

SLGN has been the subject of several analyst reports. Raymond James lifted their price objective on shares of Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Wells Fargo & Company raised their price objective on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Loop Capital upped their target price on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Truist Financial reissued a “buy” rating and set a $70.00 target price (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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.22.

About Silgan

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.