Alliancebernstein L.P. Sells 9,240 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Alliancebernstein L.P. lessened its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 586,836 shares of the industrial products company's stock after selling 9,240 shares during the quarter. Alliancebernstein L.P. owned about 0.55% of Silgan worth $30,545,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its position in shares of Silgan by 0.8% during the 4th quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company's stock valued at $1,290,000 after purchasing an additional 195 shares in the last quarter. LPL Financial LLC lifted its stake in Silgan by 1.8% during the fourth quarter. LPL Financial LLC now owns 21,793 shares of the industrial products company's stock valued at $1,134,000 after purchasing an additional 393 shares during the last quarter. M&T Bank Corp boosted its holdings in Silgan by 2.4% during the fourth quarter. M&T Bank Corp now owns 16,970 shares of the industrial products company's stock worth $883,000 after buying an additional 404 shares in the last quarter. Keybank National Association OH grew its position in Silgan by 3.4% in the fourth quarter. Keybank National Association OH now owns 12,678 shares of the industrial products company's stock worth $660,000 after buying an additional 411 shares during the last quarter. Finally, Atria Investments Inc increased its holdings in shares of Silgan by 9.2% in the fourth quarter. Atria Investments Inc now owns 5,067 shares of the industrial products company's stock valued at $264,000 after buying an additional 427 shares in the last quarter. Institutional investors own 70.25% of the company's stock.

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Insiders Place Their Bets

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was 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 directly owns 227,332 shares in the company, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Lewis sold 20,000 shares of the company'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 sale, the executive vice president now 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. Insiders own 1.39% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SLGN shares. Wells Fargo & Company lifted their target price on Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Truist Financial reissued a "buy" rating and issued a $70.00 price target (up previously from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Raymond James raised their target price on shares of Silgan from $62.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Bank of America boosted 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. Finally, JPMorgan Chase & Co. raised their price objective 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. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.22.

Silgan Stock Up 2.7 %

Shares of NYSE:SLGN traded up $1.29 during trading on Friday, reaching $48.91. 731,164 shares of the company traded hands, compared to its average volume of 648,247. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The firm has a market cap of $5.22 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. The firm has a fifty day simple moving average of $51.38 and a 200 day simple moving average of $52.53.

Silgan (NYSE:SLGN - Get Free Report) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 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 anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.64%. Silgan's payout ratio is 31.01%.

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.