UMB Bank n.a. Purchases 645 Shares of Silgan Holdings Inc. (NYSE:SLGN)

UMB Bank n.a. boosted its position in Silgan Holdings Inc. (NYSE:SLGN) by 254.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 898 shares of the industrial products company’s stock after acquiring an additional 645 shares during the period. UMB Bank n.a.’s holdings in Silgan were worth $46,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GeoWealth Management LLC bought a new position in shares of Silgan in the 4th quarter valued at about $56,000. Bank of Jackson Hole Trust acquired a new position in Silgan in the fourth quarter valued at approximately $59,000. Smartleaf Asset Management LLC boosted its stake in Silgan by 1,229.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 1,906 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Silgan by 153.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 2,145 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in Silgan by 5.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,760 shares of the industrial products company’s stock worth $192,000 after acquiring an additional 210 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Silgan

In other news, EVP Robert B. Lewis sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $55.92, for a total transaction of $559,200.00. Following the completion of the sale, the executive vice president now owns 153,378 shares in the company, valued at $8,576,897.76. The trade was a 6.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total value of $128,530.90. Following the sale, the vice president now directly owns 1,380 shares of the company’s stock, valued at $74,589. This represents a 63.28% decrease in their position. The disclosure for this sale can be found here. 1.13% of the stock is owned by insiders.

Silgan Price Performance

NYSE SLGN opened at $54.13 on Friday. 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 stock has a market cap of $5.79 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 1.27 and a beta of 0.76. The business has a 50 day simple moving average of $52.81 and a 200 day simple moving average of $52.71. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.48%. Silgan’s payout ratio is presently 29.74%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price target on the stock in a research note on Thursday, May 1st. Truist Financial cut their target price on Silgan from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Raymond James upgraded Silgan from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Finally, Citigroup increased their price target on shares of Silgan from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $63.11.

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.