AlphaQuest LLC Reduces Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

AlphaQuest LLC decreased its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 91.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,954 shares of the industrial products company's stock after selling 30,317 shares during the quarter. AlphaQuest LLC's holdings in Silgan were worth $154,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Silgan by 87.7% during the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company's stock valued at $329,619,000 after purchasing an additional 2,932,680 shares in the last quarter. State Street Corp boosted its position in Silgan by 0.6% during the 3rd quarter. State Street Corp now owns 2,497,683 shares of the industrial products company's stock valued at $131,128,000 after acquiring an additional 14,109 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Silgan by 0.4% in the 4th quarter. Victory Capital Management Inc. now owns 2,140,028 shares of the industrial products company's stock worth $111,388,000 after acquiring an additional 9,532 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Silgan by 11.7% in the 3rd 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. Finally, Segall Bryant & Hamill LLC raised its position in shares of Silgan by 0.9% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,278,560 shares of the industrial products company's stock worth $67,124,000 after acquiring an additional 11,655 shares in the last quarter. Institutional investors own 70.25% of the company's stock.

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Silgan Stock Performance

Silgan stock traded down $0.73 during trading hours on Friday, hitting $49.63. 4,419,881 shares of the stock traded hands, compared to its average volume of 612,721. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. The firm's 50 day moving average price is $52.83 and its 200-day moving average price is $52.74. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.27 and a beta of 0.71. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14.

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

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from Silgan's previous quarterly dividend of $0.19. Silgan's dividend payout ratio is presently 31.01%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Raymond James boosted their price target on Silgan from $62.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Royal Bank of Canada boosted 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. Loop Capital boosted their target price on Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Finally, Truist Financial restated a "buy" rating and set a $70.00 target price (up from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $64.22.

Insider Buying and Selling at Silgan

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the completion of the transaction, the executive vice president now owns 152,133 shares of the company's stock, valued at $8,096,518.26. This represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 227,332 shares of the company's stock, valued at $12,441,880.36. The trade was a 35.48 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% of the company's stock.

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.