State of New Jersey Common Pension Fund D Increases Position in Silgan Holdings Inc. (NYSE:SLGN)

State of New Jersey Common Pension Fund D increased its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 14.6% in the fourth quarter, HoldingsChannel reports. The firm owned 61,022 shares of the industrial products company’s stock after buying an additional 7,770 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Silgan were worth $2,761,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC lifted its position in shares of Silgan by 94.9% during 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 during the last quarter. Fifth Third Bancorp boosted its stake in Silgan by 92.4% in the third quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 538 shares in the last quarter. Headlands Technologies LLC purchased a new position in Silgan in the third quarter worth $70,000. Blue Trust Inc. increased its position in shares of 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 in the last quarter. Finally, Corton Capital Inc. purchased a new stake in shares of Silgan during the 3rd quarter valued at $256,000. Institutional investors own 70.25% of the company’s stock.

Silgan Stock Up 0.8 %

SLGN stock opened at $47.33 on Tuesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.02 and a quick ratio of 0.61. The firm’s fifty day simple moving average is $46.01 and its 200-day simple moving average is $44.07. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $50.18. The company has a market capitalization of $5.05 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 2.56 and a beta of 0.68.

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

Silgan Increases Dividend

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

Insiders Place Their Bets

In related news, VP B Frederik Prinzen sold 4,684 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $43.89, for a total value of $205,580.76. Following the completion of the transaction, the vice president now directly owns 8,613 shares in the company, valued at approximately $378,024.57. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 13.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLGN. Truist Financial upped their target price on Silgan from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Raymond James increased their price objective on shares of Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. lifted their target price on shares of Silgan from $39.00 to $46.00 and gave the stock an “underweight” rating in a research note on Thursday, February 1st. Royal Bank of Canada upped 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. Finally, Citigroup boosted their price objective on shares of Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Silgan presently has an average rating of “Moderate Buy” and a consensus price target of $53.13.

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.