Silgan Holdings Inc. (NYSE:SLGN) CEO Adam J. Greenlee Sells 125,000 Shares

Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) CEO Adam J. Greenlee sold 125,000 shares of the business's 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 sale, the chief executive officer now directly owns 227,332 shares of the company's stock, valued at approximately $12,441,880.36. The trade was a 35.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Silgan Price Performance

NYSE:SLGN traded up $0.70 during mid-day trading on Friday, hitting $54.28. 612,666 shares of the company's stock traded hands, compared to its average volume of 669,373. 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 firm's 50 day simple moving average is $53.13 and its 200 day simple moving average is $52.78. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The company has a market cap of $5.80 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping 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%. Sell-side analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.47%. Silgan's dividend payout ratio (DPR) is currently 29.46%.

Institutional Investors Weigh In On Silgan

Hedge funds have recently modified their holdings of the stock. Nicola Wealth Management LTD. lifted its position in Silgan by 24.4% during the third quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company's stock valued at $5,087,000 after buying an additional 19,000 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in Silgan during the third quarter valued at approximately $2,975,000. BNP Paribas Financial Markets lifted its position in Silgan by 144.1% during the third quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company's stock valued at $2,884,000 after buying an additional 32,432 shares in the last quarter. Versor Investments LP lifted its position in Silgan by 112.7% during the third quarter. Versor Investments LP now owns 10,208 shares of the industrial products company's stock valued at $536,000 after buying an additional 5,408 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new position in Silgan during the fourth quarter valued at approximately $620,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on SLGN shares. Bank of America upped 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. JPMorgan Chase & Co. upped their target price on shares of Silgan from $53.00 to $57.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Loop Capital increased their price objective on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Truist Financial reissued a "buy" rating and set a $70.00 target price (up previously from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Finally, Royal Bank of Canada increased their target price on shares of Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.