Zurcher Kantonalbank Zurich Cantonalbank Sells 1,067 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,323 shares of the industrial products company’s stock after selling 1,067 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Silgan were worth $739,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Quent Capital LLC increased its holdings in Silgan by 94.9% during the fourth quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock worth $47,000 after buying an additional 505 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Silgan by 92.4% during the 3rd 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 acquired a new position in shares of Silgan during the 3rd quarter worth about $70,000. Blue Trust Inc. raised its holdings in shares of Silgan by 4,440.4% in the 4th quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 2,087 shares during the period. Finally, Corton Capital Inc. acquired a new stake in Silgan in the 3rd quarter valued at about $256,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Trading Up 0.8 %

SLGN stock opened at $47.33 on Tuesday. Silgan Holdings Inc. has a 52 week low of $38.11 and a 52 week high of $50.18. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.61 and a current ratio of 1.02. The company’s 50-day simple moving average is $46.01 and its 200 day simple moving average is $44.07. The company has a market capitalization of $5.05 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 2.56 and a beta of 0.68.

Silgan (NYSE:SLGN) last announced its 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. Silgan had a net margin of 5.44% and a return on equity of 20.29%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.39 billion. As a group, sell-side analysts anticipate that Silgan Holdings Inc. will post 3.67 earnings per share for the current year.

Silgan Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLGN. Citigroup upped their price objective on Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. increased their price target on Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday, February 1st. Truist Financial lifted their price objective on shares of Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Royal Bank of Canada raised their target price on shares of Silgan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Raymond James upped their price target on shares of Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.13.

Insider Activity

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 owns 8,613 shares in the company, valued at $378,024.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.08% of the company’s stock.

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.