Proficio Capital Partners LLC Purchases New Position in Silgan Holdings Inc. (NYSE:SLGN)

Proficio Capital Partners LLC purchased a new stake in Silgan Holdings Inc. (NYSE:SLGN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,777 shares of the industrial products company’s stock, valued at approximately $873,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Silgan by 7.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company’s stock valued at $290,000 after buying an additional 361 shares during the last quarter. Verdence Capital Advisors LLC grew its position in Silgan by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock worth $390,000 after buying an additional 388 shares during the period. Captrust Financial Advisors grew its position in Silgan by 5.7% during the third quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company’s stock worth $441,000 after buying an additional 456 shares during the period. KBC Group NV lifted its holdings in shares of Silgan by 27.7% in the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 494 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Silgan by 7.4% in the fourth quarter. Sanctuary Advisors LLC now owns 7,715 shares of the industrial products company’s stock valued at $433,000 after purchasing an additional 533 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Silgan

In related news, EVP Robert B. Lewis sold 20,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the transaction, the executive vice president now owns 152,133 shares of the company’s stock, valued at approximately $8,096,518.26. The trade was a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the transaction, the chief executive officer now directly owns 227,332 shares in the company, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Raymond James upped their price target on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Truist Financial reaffirmed a “buy” rating and set a $70.00 price target (up previously from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Bank of America increased their price objective on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Robert W. Baird raised their price target on shares of Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company raised their price target on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.22.

Silgan Stock Performance

Silgan stock opened at $53.08 on Friday. The firm’s 50 day simple moving average is $53.07 and its 200-day simple moving average is $52.83. The company has a market cap of $5.67 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. As a group, equities research analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.51%. This is a boost from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 17th. Silgan’s payout ratio is presently 31.01%.

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.