Envestnet Asset Management Inc. Acquires 3,490 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Envestnet Asset Management Inc. raised its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,033 shares of the industrial products company’s stock after buying an additional 3,490 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of Silgan worth $5,623,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its position in Silgan by 1.8% during the fourth quarter. Wells Fargo & Company MN now owns 87,542 shares of the industrial products company’s stock worth $4,557,000 after purchasing an additional 1,528 shares during the period. OLD Mission Capital LLC bought a new position in Silgan in the 4th quarter valued at about $1,736,000. Franklin Resources Inc. boosted its holdings in shares of Silgan by 1,918.8% during the fourth quarter. Franklin Resources Inc. now owns 86,929 shares of the industrial products company’s stock worth $4,525,000 after acquiring an additional 82,623 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of Silgan by 351.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,011 shares of the industrial products company’s stock worth $990,000 after buying an additional 14,804 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Silgan by 0.5% in the fourth quarter. California Public Employees Retirement System now owns 382,670 shares of the industrial products company’s stock valued at $19,918,000 after acquiring an additional 1,863 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the completion of the sale, the chief executive officer now owns 227,332 shares of the company’s stock, valued at approximately $12,441,880.36. This trade represents a 35.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the sale, the executive vice president now directly owns 152,133 shares in the company, valued at approximately $8,096,518.26. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Wall Street Analyst Weigh In

SLGN has been the subject of a number of recent analyst reports. Raymond James upped their target price on Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Loop Capital increased their target price on shares of Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Wells Fargo & Company increased their target price on Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Truist Financial restated a “buy” rating and issued a $70.00 price target (up from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Finally, Robert W. Baird increased their price target on Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.22.

Silgan Stock Down 0.9 %

Shares of NYSE:SLGN opened at $48.89 on Tuesday. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. The business’s 50 day simple moving average is $50.85 and its two-hundred day simple moving average is $52.43. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. The firm has a market cap of $5.22 billion, a P/E ratio of 18.95, a PEG ratio of 1.27 and a beta of 0.81.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. As a group, research analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Monday, March 17th. This is an increase from Silgan’s previous quarterly dividend of $0.19. Silgan’s payout ratio is presently 31.01%.

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.