Bayforest Capital Ltd Buys 8,536 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Bayforest Capital Ltd raised its stake in Silgan Holdings Inc. (NYSE:SLGN) by 354.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,947 shares of the industrial products company’s stock after purchasing an additional 8,536 shares during the period. Bayforest Capital Ltd’s holdings in Silgan were worth $560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. American Century Companies Inc. grew its holdings in shares of Silgan by 174.3% during the fourth quarter. American Century Companies Inc. now owns 16,269 shares of the industrial products company’s stock valued at $847,000 after buying an additional 10,338 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Silgan by 1.8% during the fourth quarter. LPL Financial LLC now owns 21,793 shares of the industrial products company’s stock valued at $1,134,000 after buying an additional 393 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Silgan by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company’s stock valued at $464,886,000 after buying an additional 455,381 shares during the last quarter. Norges Bank acquired a new position in shares of Silgan during the fourth quarter valued at about $38,680,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Silgan by 6.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 11,787 shares of the industrial products company’s stock valued at $614,000 after buying an additional 680 shares during the last quarter. 70.25% of the stock is owned by institutional investors.

Silgan Stock Performance

Shares of SLGN stock opened at $47.32 on Thursday. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 1.30 and a beta of 0.75. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.67 and a current ratio of 1.14. Silgan Holdings Inc. has a 52 week low of $44.37 and a 52 week high of $58.14. The firm’s 50-day simple moving average is $54.80 and its two-hundred day simple moving average is $53.03.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.02). The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Silgan had a return on equity of 20.00% and a net margin of 4.82%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. As a group, equities analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.69%. The ex-dividend date was Monday, June 2nd. Silgan’s dividend payout ratio is 29.74%.

Analyst Ratings Changes

Several research analysts recently weighed in on SLGN shares. Wells Fargo & Company boosted their price target on shares of Silgan from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. JPMorgan Chase & Co. upgraded shares of Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price target on the stock in a report on Thursday, May 1st. Bank of America restated a “neutral” rating and set a $59.00 price target (up from $57.00) on shares of Silgan in a report on Wednesday, July 9th. Raymond James Financial restated a “strong-buy” rating on shares of Silgan in a report on Tuesday, July 15th. Finally, Truist Financial boosted their price target on shares of Silgan from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.78.

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 shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the sale, the executive vice president owned 153,378 shares of the company’s stock, valued at $8,576,897.76. The trade was a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP B Frederik Prinzen sold 2,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total transaction of $128,530.90. Following the completion of the sale, the vice president directly owned 1,380 shares in the company, valued at approximately $74,589. This trade represents a 63.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.13% of the company’s stock.

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.