Louisiana State Employees Retirement System Buys New Position in Silgan Holdings Inc. (NYSE:SLGN)

Louisiana State Employees Retirement System bought a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,700 shares of the industrial products company’s stock, valued at approximately $1,027,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Quent Capital LLC boosted its holdings in Silgan by 94.9% in the fourth quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 505 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Silgan by 92.4% in the third quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 538 shares in the last quarter. Headlands Technologies LLC bought a new position in Silgan in the third quarter worth approximately $70,000. Blue Trust Inc. boosted its holdings in Silgan by 4,440.4% in the fourth quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 2,087 shares in the last quarter. Finally, Corton Capital Inc. bought a new position in Silgan in the third quarter worth approximately $256,000. Institutional investors own 70.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SLGN shares. Truist Financial increased their price target on Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Citigroup raised their target price on Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Wells Fargo & Company raised their target price on Silgan from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Raymond James raised their target price on Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Royal Bank of Canada raised their target price on Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. One equities research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.13.

Silgan Stock Performance

Shares of SLGN opened at $47.32 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.61 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.56 and a beta of 0.68. The stock has a 50 day moving average of $45.83 and a 200 day moving average of $43.93. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $54.16.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Silgan had a return on equity of 20.29% and a net margin of 5.44%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.39 billion. As a group, sell-side analysts forecast that Silgan Holdings Inc. will post 3.67 earnings per share for the current year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.19 dividend. The ex-dividend date was Wednesday, March 13th. This is a positive change from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 1.61%. Silgan’s payout ratio is presently 25.50%.

Insider Buying and Selling at Silgan

In other Silgan news, VP B Frederik Prinzen sold 4,684 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $205,580.76. Following the sale, the vice president now directly owns 8,613 shares in the company, valued at $378,024.57. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 13.08% of the company’s stock.

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.