First Trust Advisors LP Has $59.36 Million Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

First Trust Advisors LP trimmed its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,140,368 shares of the industrial products company's stock after selling 285,662 shares during the quarter. First Trust Advisors LP owned approximately 1.07% of Silgan worth $59,356,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. GeoWealth Management LLC bought a new stake in Silgan in the fourth quarter valued at approximately $56,000. CANADA LIFE ASSURANCE Co raised its stake in Silgan by 4.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 59,832 shares of the industrial products company's stock worth $3,112,000 after buying an additional 2,350 shares during the period. Dean Investment Associates LLC lifted its holdings in shares of Silgan by 26.9% in the 4th quarter. Dean Investment Associates LLC now owns 90,664 shares of the industrial products company's stock worth $4,719,000 after purchasing an additional 19,233 shares in the last quarter. Farringdon Capital Ltd. bought a new position in shares of Silgan in the fourth quarter valued at $250,000. Finally, Marshall Wace LLP boosted its stake in Silgan by 36.2% during the 4th quarter. Marshall Wace LLP now owns 18,730 shares of the industrial products company's stock valued at $975,000 after purchasing an additional 4,977 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 value of $6,841,250.00. Following the completion of the transaction, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. The trade was a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert B. Lewis sold 20,000 shares of the business's stock in a transaction dated 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 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 disclosure for this sale can be found here. Company insiders own 1.39% of the company's stock.

Silgan Stock Performance

Shares of SLGN stock opened at $50.97 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The stock has a 50 day moving average price of $50.80 and a two-hundred day moving average price of $52.42. The company has a market capitalization of $5.44 billion, a P/E ratio of 19.75, a PEG ratio of 1.27 and a beta of 0.81.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly 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 return on equity of 19.70% and a net margin of 4.72%. Analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Monday, March 17th. This is a boost from Silgan's previous quarterly dividend of $0.19. Silgan's dividend payout ratio (DPR) is presently 31.01%.

Analyst Ratings Changes

A number of brokerages have issued reports on SLGN. Loop Capital upped their price objective on shares of Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and cut their price objective for the stock from $65.00 to $60.00 in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Truist Financial lowered their price objective on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company lifted their target price on shares of Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.78.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.