Verdence Capital Advisors LLC Purchases Shares of 6,707 Silgan Holdings Inc. (NYSE:SLGN)

Verdence Capital Advisors LLC purchased a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,707 shares of the industrial products company’s stock, valued at approximately $303,000.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Silgan by 3.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,323,963 shares of the industrial products company’s stock worth $105,159,000 after purchasing an additional 66,837 shares during the period. Barclays PLC raised its stake in Silgan by 203.9% in the third quarter. Barclays PLC now owns 118,564 shares of the industrial products company’s stock worth $5,109,000 after buying an additional 79,551 shares in the last quarter. Quent Capital LLC raised its stake 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 buying an additional 505 shares in the last quarter. Robeco Schweiz AG raised its stake in Silgan by 24.5% in the third quarter. Robeco Schweiz AG now owns 132,000 shares of the industrial products company’s stock worth $5,691,000 after buying an additional 26,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Silgan by 9.7% in the third quarter. Public Employees Retirement System of Ohio now owns 132,550 shares of the industrial products company’s stock worth $5,714,000 after buying an additional 11,669 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SLGN shares. JPMorgan Chase & Co. raised their target price on shares of Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday, February 1st. Royal Bank of Canada raised their price target on shares of Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Citigroup raised their price target on shares of Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Truist Financial raised their price target on shares of Silgan from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, Wells Fargo & Company raised their price target on shares of Silgan from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.13.

Insider Buying and Selling

In other news, VP B Frederik Prinzen sold 4,684 shares of Silgan stock in a transaction on Monday, March 4th. The shares were sold at an average price of $43.89, for a total transaction of $205,580.76. Following the transaction, the vice president now owns 8,613 shares in the company, valued at approximately $378,024.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.08% of the stock is currently owned by corporate insiders.

Silgan Trading Up 0.4 %

Shares of SLGN stock opened at $47.23 on Wednesday. Silgan Holdings Inc. has a 12-month low of $38.11 and a 12-month high of $54.92. 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 firm’s 50 day moving average is $45.77 and its 200 day moving average is $43.91. The stock has a market capitalization of $5.04 billion, a P/E ratio of 15.85, a P/E/G ratio of 2.56 and a beta of 0.68.

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

Silgan Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.76 annualized dividend and a yield of 1.61%. This is a boost from Silgan’s previous quarterly dividend of $0.18. Silgan’s dividend payout ratio (DPR) is currently 25.50%.

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.