BlackRock Inc. decreased its stake in Silgan Holdings Inc. (NYSE:SLGN – Get Rating) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,058,755 shares of the industrial products company’s stock after selling 38,380 shares during the period. BlackRock Inc. owned approximately 6.41% of Silgan worth $296,749,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SLGN. Raymond James & Associates boosted its holdings in Silgan by 21.6% in the first quarter. Raymond James & Associates now owns 32,571 shares of the industrial products company’s stock valued at $1,506,000 after purchasing an additional 5,788 shares during the last quarter. Citigroup Inc. boosted its holdings in Silgan by 5.4% in the first quarter. Citigroup Inc. now owns 12,553 shares of the industrial products company’s stock valued at $579,000 after purchasing an additional 640 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in Silgan by 9.0% in the first quarter. Natixis Advisors L.P. now owns 27,788 shares of the industrial products company’s stock valued at $1,285,000 after purchasing an additional 2,288 shares during the last quarter. Bank of Montreal Can boosted its holdings in Silgan by 3.3% in the first quarter. Bank of Montreal Can now owns 21,702 shares of the industrial products company’s stock valued at $1,009,000 after purchasing an additional 703 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Silgan in the first quarter valued at about $89,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.
Insider Activity at Silgan
In related news, Director Anthony J. Allott sold 50,972 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $54.08, for a total value of $2,756,565.76. Following the sale, the director now directly owns 709,501 shares in the company, valued at approximately $38,369,814.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 24.33% of the stock is owned by insiders.
Silgan Stock Down 1.4 %
Silgan Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be given a $0.18 dividend. This is a boost from Silgan’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.40%. The ex-dividend date is Thursday, March 16th. Silgan’s dividend payout ratio (DPR) is currently 23.53%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. KeyCorp increased their price target on Silgan from $49.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, December 15th. Truist Financial raised Silgan from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Thursday, January 5th. Wells Fargo & Company increased their target price on Silgan from $57.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. JPMorgan Chase & Co. increased their target price on Silgan from $43.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, January 26th. Finally, Robert W. Baird increased their target price on Silgan from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.78.
Silgan Company Profile
Silgan Holdings, Inc engages in the manufacture and sale of rigid packaging for consumer goods products. It operates through the following business segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers dispensing and specialty closures for food, beverage, health care, garden, home, personal care, fragrance, and beauty products.
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