Raymond James & Associates Has $1.97 Million Position in Silgan Holdings Inc. (NYSE:SLGN)

Raymond James & Associates lowered its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 5.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 43,559 shares of the industrial products company’s stock after selling 2,567 shares during the quarter. Raymond James & Associates’ holdings in Silgan were worth $1,971,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Eagle Bay Advisors LLC lifted its stake in Silgan by 151.1% during the second quarter. Eagle Bay Advisors LLC now owns 836 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 503 shares during the last quarter. Fifth Third Bancorp lifted its stake in Silgan by 92.4% during the third quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 538 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Silgan in the 3rd quarter valued at $70,000. State of Wyoming lifted its stake in shares of Silgan by 30.4% in the 2nd quarter. State of Wyoming now owns 1,635 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 381 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Silgan by 65.2% in the 1st quarter. Captrust Financial Advisors now owns 1,895 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 748 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SLGN. Truist Financial increased their price target on Silgan from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Royal Bank of Canada raised their target price on Silgan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. raised their target price on Silgan from $39.00 to $46.00 and gave the stock an “underweight” rating in a research report on Thursday, February 1st. Wells Fargo & Company raised their target price on Silgan from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Raymond James raised their target price on Silgan from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.13.

Silgan Stock Performance

Shares of Silgan stock opened at $47.04 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.61 and a debt-to-equity ratio of 1.35. The business has a 50-day moving average price of $45.53 and a two-hundred day moving average price of $43.73. The company has a market cap of $5.02 billion, a P/E ratio of 15.79, a PEG ratio of 2.59 and a beta of 0.68. Silgan Holdings Inc. has a 1-year low of $38.11 and a 1-year high of $54.92.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.39 billion. Silgan had a return on equity of 20.29% and a net margin of 5.44%. As a group, analysts anticipate that Silgan Holdings Inc. will post 3.67 EPS for the current year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.19 dividend. The ex-dividend date was Wednesday, March 13th. This is an increase from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 1.62%. Silgan’s dividend payout ratio (DPR) is currently 25.50%.

Insider Activity

In other news, VP B Frederik Prinzen sold 4,684 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $205,580.76. Following the completion of the sale, the vice president now directly owns 8,613 shares in the company, valued at approximately $378,024.57. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 13.08% of the stock is currently owned by company insiders.

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.