Northern Trust Corp Buys 180,119 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Northern Trust Corp increased its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 24.9% during the 4th quarter, Holdings Channel reports. The fund owned 904,827 shares of the industrial products company’s stock after buying an additional 180,119 shares during the quarter. Northern Trust Corp’s holdings in Silgan were worth $47,096,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Silgan by 23.6% in the third quarter. Barclays PLC now owns 57,327 shares of the industrial products company’s stock worth $3,010,000 after acquiring an additional 10,936 shares in the last quarter. GAMMA Investing LLC increased its stake in Silgan by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 863 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Silgan during the 4th quarter worth approximately $1,142,000. Ritholtz Wealth Management bought a new position in Silgan in the fourth quarter valued at approximately $620,000. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Silgan by 5.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 385,710 shares of the industrial products company’s stock valued at $20,076,000 after buying an additional 19,080 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Price Performance

NYSE:SLGN opened at $53.83 on Friday. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 1.27 and a beta of 0.74. The stock’s 50 day moving average price is $50.45 and its two-hundred day moving average price is $52.53. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. On average, analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. Silgan’s dividend payout ratio (DPR) is currently 29.74%.

Insider Buying and Selling

In other news, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total value of $1,064,400.00. Following the completion of the sale, the executive vice president now directly owns 152,133 shares in the company, valued at approximately $8,096,518.26. The trade was a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the sale, the chief executive officer now directly owns 227,332 shares in the company, valued at $12,441,880.36. This represents a 35.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,378 shares of company stock valued at $8,034,181. Insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

SLGN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised shares of Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price objective on the stock in a research report on Thursday, May 1st. Raymond James upgraded Silgan from an “outperform” rating to a “strong-buy” rating and cut their price target for the company from $65.00 to $60.00 in a report on Tuesday, April 22nd. Loop Capital increased their price objective on Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Wells Fargo & Company boosted their target price on Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Truist Financial decreased their price target on shares of Silgan from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $63.11.

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.