Synovus Financial Corp Acquires 368 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Synovus Financial Corp increased its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,721 shares of the industrial products company’s stock after acquiring an additional 368 shares during the quarter. Synovus Financial Corp’s holdings in Silgan were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Silgan by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company’s stock valued at $464,886,000 after purchasing an additional 455,381 shares in the last quarter. FMR LLC grew its stake in shares of Silgan by 12.2% in the 4th quarter. FMR LLC now owns 7,046,400 shares of the industrial products company’s stock worth $366,765,000 after buying an additional 767,944 shares during the last quarter. JPMorgan Chase & Co. increased its position in Silgan by 12.8% during the 4th quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company’s stock valued at $301,670,000 after buying an additional 656,923 shares in the last quarter. Victory Capital Management Inc. raised its stake in Silgan by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,140,028 shares of the industrial products company’s stock valued at $111,388,000 after buying an additional 9,532 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Silgan by 11.7% in the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock worth $78,509,000 after acquiring an additional 157,160 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Silgan Trading Down 1.0 %

NYSE:SLGN opened at $49.05 on Wednesday. The company has a market cap of $5.24 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. The company has a 50 day simple moving average of $51.17 and a two-hundred day simple moving average of $52.49. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14.

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

Silgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.20 dividend. This is an increase from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.63%. Silgan’s dividend payout ratio (DPR) is presently 31.01%.

Insider Activity at Silgan

In related news, EVP Robert B. Lewis sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the transaction, the executive vice president now directly owns 152,133 shares of the company’s stock, valued at approximately $8,096,518.26. This trade represents a 11.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were 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 of the company’s stock, valued at $12,441,880.36. This represents a 35.48 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial restated a “buy” rating and set a $70.00 price target (up from $69.00) on shares of Silgan in a report on Thursday, January 30th. Wells Fargo & Company lifted their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Loop Capital increased their price target on shares of Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 30th. 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 research report on Thursday, January 30th. Finally, Bank of America upped their price objective on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Silgan has a consensus rating of “Moderate Buy” and a consensus price target of $64.22.

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.