Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,323 shares of the industrial products company’s stock after selling 1,067 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Silgan were worth $739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC boosted its stake in shares of Silgan by 94.9% during the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 505 shares during the last quarter. Fifth Third Bancorp boosted its position 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 acquiring an additional 538 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Silgan in the 3rd quarter worth approximately $70,000. Blue Trust Inc. raised its holdings in Silgan by 4,440.4% in the 4th quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 2,087 shares during the last quarter. Finally, Corton Capital Inc. purchased a new position in shares of Silgan during the 3rd quarter worth $256,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SLGN shares. Raymond James increased their target price on Silgan from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Truist Financial raised their target price on shares of Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Wells Fargo & Company upped their price target on shares of Silgan from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Citigroup increased their price target on shares of Silgan from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. boosted their price objective 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. One research 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’s stock. According to MarketBeat, Silgan has an average rating of “Moderate Buy” and an average target price of $53.13.

Insider Activity

In related news, VP B Frederik Prinzen sold 4,684 shares of the firm’s 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 completion of the sale, the vice president now directly owns 8,613 shares of the company’s stock, valued at approximately $378,024.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 13.08% of the company’s stock.

Silgan Stock Up 0.8 %

Shares of Silgan stock opened at $47.33 on Tuesday. Silgan Holdings Inc. has a twelve month low of $38.11 and a twelve month high of $50.18. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 2.56 and a beta of 0.68. 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 fifty day moving average price of $46.01 and a 200 day moving average price of $44.07.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.63 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.39 billion. Equities research analysts forecast that Silgan Holdings Inc. will post 3.67 earnings per share for the current fiscal year.

Silgan Increases Dividend

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