Louisiana State Employees Retirement System Invests $1.03 Million in Silgan Holdings Inc. (NYSE:SLGN)

Louisiana State Employees Retirement System bought a new position in Silgan Holdings Inc. (NYSE:SLGN) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 22,700 shares of the industrial products company’s stock, valued at approximately $1,027,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLGN. Wellington Management Group LLP grew its stake in shares of Silgan by 43.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,220,003 shares of the industrial products company’s stock worth $181,924,000 after buying an additional 1,269,349 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Silgan by 20.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,053,086 shares of the industrial products company’s stock worth $260,949,000 after buying an additional 1,047,558 shares during the last quarter. Bernzott Capital Advisors purchased a new stake in shares of Silgan in the 3rd quarter worth approximately $6,795,000. Fuller & Thaler Asset Management Inc. boosted its stake in Silgan by 9.9% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,269,176 shares of the industrial products company’s stock valued at $54,714,000 after purchasing an additional 114,849 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Silgan by 119.5% during the 3rd quarter. New York State Common Retirement Fund now owns 157,920 shares of the industrial products company’s stock valued at $6,808,000 after purchasing an additional 85,977 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several analysts have commented on SLGN shares. Citigroup increased their target price on Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Wells Fargo & Company increased their target price on Silgan from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Truist Financial increased their target price on Silgan from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Raymond James increased their target price on Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada increased their target price on Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.13.

Silgan Stock Performance

SLGN stock opened at $47.32 on Thursday. The company has a market cap of $5.05 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 2.56 and a beta of 0.68. Silgan Holdings Inc. has a 1 year low of $38.11 and a 1 year high of $54.16. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.02 and a quick ratio of 0.61. The stock’s fifty day moving average price is $45.83 and its 200-day moving average price is $43.93.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.34 billion for 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%. On average, equities analysts forecast that Silgan Holdings Inc. will post 3.67 earnings per share for the current year.

Silgan Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.19 dividend. This is a boost from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 13th. Silgan’s dividend payout ratio (DPR) is currently 25.50%.

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.