Duality Advisers LP Purchases Shares of 10,842 Silgan Holdings Inc. (NYSE:SLGN)

Duality Advisers LP purchased a new stake in Silgan Holdings Inc. (NYSE:SLGN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,842 shares of the industrial products company’s stock, valued at approximately $491,000.

A number of other institutional investors have also recently bought and sold shares of SLGN. Quent Capital LLC lifted 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 valued at $47,000 after buying an additional 505 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Silgan by 92.4% during the third quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 538 shares during the last quarter. Headlands Technologies LLC acquired a new position in Silgan during the third quarter worth $70,000. Blue Trust Inc. boosted its holdings in Silgan by 4,440.4% during the fourth quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 2,087 shares during the last quarter. Finally, Corton Capital Inc. acquired a new position in Silgan during the third quarter worth $256,000. Institutional investors own 70.25% of the company’s stock.

Insider Activity

In other news, VP B Frederik Prinzen sold 4,684 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $43.89, for a total value of $205,580.76. Following the transaction, the vice president now directly owns 8,613 shares of the company’s stock, valued at $378,024.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 13.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Silgan Stock Performance

Shares of SLGN stock opened at $47.07 on Friday. The stock has a market cap of $5.03 billion, a P/E ratio of 15.80, a P/E/G ratio of 2.58 and a beta of 0.68. The company has a fifty day moving average price of $45.88 and a two-hundred day moving average price of $43.95. Silgan Holdings Inc. has a one year low of $38.11 and a one year high of $52.43. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.02 and a quick ratio of 0.61.

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

Silgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given 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 dividend payout ratio is presently 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.