Corient Private Wealth LLC cut its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 69.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,492 shares of the industrial products company's stock after selling 12,275 shares during the period. Corient Private Wealth LLC's holdings in Silgan were worth $286,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SLGN. Raymond James Financial Inc. purchased a new position in shares of Silgan during the 4th quarter worth approximately $11,419,000. Weiss Asset Management LP bought a new stake in shares of Silgan during the 3rd quarter valued at $11,422,000. Bank of New York Mellon Corp grew its position in shares of Silgan by 22.6% in the 4th quarter. Bank of New York Mellon Corp now owns 914,019 shares of the industrial products company's stock worth $47,575,000 after buying an additional 168,789 shares during the period. Two Sigma Advisers LP increased its stake in shares of Silgan by 202.3% in the 3rd quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company's stock worth $13,015,000 after acquiring an additional 165,900 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Silgan by 11.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company's stock valued at $78,509,000 after acquiring an additional 157,160 shares during the period. Institutional investors own 70.25% of the company's stock.
Silgan Stock Performance
NYSE:SLGN traded down $1.71 during mid-day trading on Friday, reaching $47.88. The company's stock had a trading volume of 1,099,679 shares, compared to its average volume of 640,378. 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 stock has a market cap of $5.11 billion, a P/E ratio of 18.56, a PEG ratio of 1.27 and a beta of 0.71. The firm's fifty day moving average price is $52.42 and its two-hundred day moving average price is $52.74. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14.
Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. On average, equities analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.
Silgan Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Silgan's previous quarterly dividend of $0.19. Silgan's dividend payout ratio is 31.01%.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Bank of America raised their target price on shares of Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Monday, January 6th. JPMorgan Chase & Co. raised their price objective on Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Raymond James lifted their price objective on Silgan from $62.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Wells Fargo & Company increased their target price on Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada lifted their price target on Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Silgan has an average rating of "Moderate Buy" and a consensus target price of $64.22.
Check Out Our Latest Stock Analysis on Silgan
Insider Buying and Selling at Silgan
In other news, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction on Monday, February 24th. The shares were 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 owns 227,332 shares in the company, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of the company'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 completion of the sale, the executive vice president now owns 152,133 shares of the company's stock, valued at $8,096,518.26. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate insiders.
About Silgan
(
Free Report)
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.
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