Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 134,228 shares of the industrial products company's stock after selling 9,251 shares during the quarter. Legal & General Group Plc owned approximately 0.13% of Silgan worth $6,987,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Jackson Hole Trust purchased a new position in shares of Silgan during the 4th quarter worth about $59,000. Smartleaf Asset Management LLC raised its stake in Silgan by 1,229.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock worth $107,000 after purchasing an additional 1,906 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Silgan by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company's stock valued at $137,000 after purchasing an additional 863 shares during the last quarter. KBC Group NV grew its stake in shares of Silgan by 52.5% during the 4th quarter. KBC Group NV now owns 3,473 shares of the industrial products company's stock valued at $181,000 after buying an additional 1,196 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in shares of Silgan by 153.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company's stock worth $185,000 after buying an additional 2,145 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Silgan Stock Down 0.5 %

Shares of NYSE SLGN traded down $0.26 during midday trading on Wednesday, reaching $50.65. 424,778 shares of the company's stock were exchanged, compared to its average volume of 654,350. The stock has a market capitalization of $5.41 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. The business's fifty day moving average price is $50.80 and its two-hundred day moving average price is $52.42.

Silgan (NYSE:SLGN - Get Free Report) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. Analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.58%. This is an increase from Silgan's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 17th. Silgan's dividend payout ratio (DPR) is 31.01%.

Insider Activity at Silgan

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of the 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 sale, the executive vice president now directly owns 152,133 shares of the company's stock, valued at approximately $8,096,518.26. This represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 227,332 shares of the company's stock, valued at $12,441,880.36. This trade represents a 35.48 % 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.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. 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 decreased their target price on Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a report on Tuesday. Bank of America raised their price target on shares of Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a report on Monday, January 6th. Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and dropped their price objective for the stock from $65.00 to $60.00 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 report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Silgan presently has an average rating of "Moderate Buy" and a consensus price target of $62.78.

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.