Russell Investments Group Ltd. Has $7.49 Million Position in Silgan Holdings Inc. (NYSE:SLGN)

Russell Investments Group Ltd. raised its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 0.7% in the 4th quarter, HoldingsChannel reports. The firm owned 165,470 shares of the industrial products company’s stock after buying an additional 1,081 shares during the period. Russell Investments Group Ltd.’s holdings in Silgan were worth $7,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Silgan by 3.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,323,963 shares of the industrial products company’s stock worth $105,159,000 after buying an additional 66,837 shares during the period. Barclays PLC raised its stake in Silgan by 203.9% in the third quarter. Barclays PLC now owns 118,564 shares of the industrial products company’s stock valued at $5,109,000 after purchasing an additional 79,551 shares in the last quarter. New York State Common Retirement Fund grew its stake in Silgan by 33.0% during the fourth quarter. New York State Common Retirement Fund now owns 210,066 shares of the industrial products company’s stock worth $9,505,000 after buying an additional 52,146 shares in the last quarter. Quent Capital LLC increased its holdings in Silgan by 94.9% in the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock valued at $47,000 after buying an additional 505 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Silgan by 4.1% in the 4th quarter. California Public Employees Retirement System now owns 367,118 shares of the industrial products company’s stock valued at $16,612,000 after buying an additional 14,575 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

Insider Activity at Silgan

In other news, VP B Frederik Prinzen sold 4,684 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were 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 approximately $378,024.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.39% of the stock is currently owned by company insiders.

Silgan Stock Performance

Silgan stock opened at $47.14 on Wednesday. The business has a 50 day moving average of $46.20 and a 200-day moving average of $44.28. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.49 and a quick ratio of 0.29. Silgan Holdings Inc. has a 1 year low of $38.11 and a 1 year high of $49.72. The company has a market capitalization of $5.03 billion, a P/E ratio of 16.54, a P/E/G ratio of 2.53 and a beta of 0.69.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.37 billion. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. On average, equities research analysts predict that Silgan Holdings Inc. will post 3.66 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. Investors of record on Thursday, March 14th were paid a $0.19 dividend. This is a positive change from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 13th. Silgan’s payout ratio is currently 26.67%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company lowered their price objective on shares of Silgan from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Citigroup upped their price objective on Silgan from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Raymond James lifted their target price on Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. increased their target price on shares of Silgan from $39.00 to $46.00 and gave the stock an “underweight” rating in a report on Thursday, February 1st. Finally, Royal Bank of Canada lifted their price target on shares of Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.00.

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.