Allianz Asset Management GmbH Buys 3,700 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Allianz Asset Management GmbH grew its position in Silgan Holdings Inc. (NYSE:SLGN) by 38.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,445 shares of the industrial products company’s stock after purchasing an additional 3,700 shares during the quarter. Allianz Asset Management GmbH’s holdings in Silgan were worth $687,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. CX Institutional bought a new stake in Silgan in the 1st quarter valued at about $42,000. UMB Bank n.a. raised its position in shares of Silgan by 254.9% in the first quarter. UMB Bank n.a. now owns 898 shares of the industrial products company’s stock valued at $46,000 after buying an additional 645 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Silgan in the first quarter valued at approximately $51,000. GeoWealth Management LLC acquired a new stake in Silgan during the fourth quarter worth approximately $56,000. Finally, Continuum Advisory LLC increased its stake in Silgan by 2,754.3% during the 1st quarter. Continuum Advisory LLC now owns 1,313 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,267 shares during the period. Institutional investors own 70.25% of the company’s stock.

Silgan Price Performance

SLGN stock opened at $45.72 on Friday. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 16.27, a P/E/G ratio of 1.13 and a beta of 0.69. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.48 and a quick ratio of 0.67. The company has a 50 day simple moving average of $54.45 and a 200 day simple moving average of $52.96. Silgan Holdings Inc. has a 1 year low of $44.37 and a 1 year high of $58.14.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.02). Silgan had a return on equity of 19.98% and a net margin of 4.90%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the company posted $0.88 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Research analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, June 2nd. Silgan’s payout ratio is 29.74%.

Insider Activity

In other Silgan 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 transaction of $559,200.00. Following the sale, the executive vice president directly owned 153,378 shares of the company’s stock, valued at $8,576,897.76. The trade was a 6.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP B Frederik Prinzen sold 2,378 shares of the company’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 transaction, the vice president owned 1,380 shares of the company’s stock, valued at approximately $74,589. This trade represents a 63.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.13% of the company’s stock.

Analyst Upgrades and Downgrades

SLGN has been the subject of a number of recent analyst reports. Truist Financial upped their target price on Silgan from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Wells Fargo & Company increased their price objective on shares of Silgan from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. raised shares of Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 target price on the stock in a report on Thursday, May 1st. Raymond James Financial cut their price target on shares of Silgan from $64.00 to $60.00 and set a “strong-buy” rating for the company in a report on Thursday. Finally, Bank of America reissued a “neutral” rating and issued a $59.00 price objective (up from $57.00) on shares of Silgan in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.44.

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.