Silgan Holdings Inc. (NYSE:SLGN) Stake Raised by MetLife Investment Management LLC

MetLife Investment Management LLC increased its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 9.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,783 shares of the industrial products company’s stock after acquiring an additional 3,811 shares during the period. MetLife Investment Management LLC’s holdings in Silgan were worth $2,383,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SLGN. GeoWealth Management LLC purchased a new stake in shares of Silgan during the 4th quarter worth about $56,000. Bank of Jackson Hole Trust bought a new position in shares of Silgan in the 4th quarter valued at approximately $59,000. Smartleaf Asset Management LLC raised its stake in shares of 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 valued at $107,000 after acquiring an additional 1,906 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Silgan by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 863 shares in the last quarter. Finally, KBC Group NV raised its stake 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. 70.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SLGN has been the topic of a number of recent analyst reports. Truist Financial cut their price objective on Silgan from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Loop Capital raised their price objective on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Bank of America raised their target price on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada raised their target price on Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Silgan presently has a consensus rating of “Moderate Buy” and an average target price of $62.78.

Silgan Stock Performance

Shares of NYSE:SLGN opened at $51.48 on Monday. The business’s fifty day moving average price is $50.65 and its two-hundred day moving average price is $52.44. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 predict that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.55%. This is a boost from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 17th. Silgan’s dividend payout ratio is 31.01%.

Insider Buying and Selling at Silgan

In other Silgan news, 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 owns 227,332 shares of the company’s stock, valued at $12,441,880.36. This represents a 35.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction dated 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 directly owns 152,133 shares in the company, valued at approximately $8,096,518.26. This represents a 11.62 % decrease in their position. 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.