Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,488 shares of the industrial products company's stock after selling 4,800 shares during the period. Handelsbanken Fonder AB's holdings in Silgan were worth $1,171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Raymond James & Associates grew its stake in shares of Silgan by 26.6% in the 3rd quarter. Raymond James & Associates now owns 45,134 shares of the industrial products company's stock valued at $2,370,000 after purchasing an additional 9,470 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Silgan by 7.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company's stock worth $290,000 after purchasing an additional 361 shares during the period. New York State Teachers Retirement System grew its position in Silgan by 7.6% in the 3rd quarter. New York State Teachers Retirement System now owns 106,539 shares of the industrial products company's stock valued at $5,593,000 after buying an additional 7,480 shares during the last quarter. QRG Capital Management Inc. increased its stake in Silgan by 17.1% in the 3rd quarter. QRG Capital Management Inc. now owns 26,273 shares of the industrial products company's stock valued at $1,379,000 after buying an additional 3,832 shares during the period. Finally, Verdence Capital Advisors LLC raised its position in Silgan by 5.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company's stock worth $390,000 after buying an additional 388 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Silgan Price Performance

NYSE SLGN traded down $1.71 during trading hours on Monday, reaching $52.60. The company's stock had a trading volume of 568,739 shares, compared to its average volume of 661,718. 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 stock has a market cap of $5.62 billion, a PE ratio of 20.39, a PEG ratio of 1.27 and a beta of 0.71. The company's 50-day moving average is $53.13 and its two-hundred day moving average is $52.78. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week 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 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.20 dividend. This is a boost from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Monday, March 17th. Silgan's payout ratio is presently 31.01%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SLGN. Royal Bank of Canada boosted their price target on shares of Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Raymond James boosted their target price on Silgan from $62.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Wells Fargo & Company raised their price target on Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Loop Capital increased their price objective on Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Finally, Truist Financial reissued a "buy" rating and issued a $70.00 target price (up previously from $69.00) on shares of Silgan in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.22.

Insiders Place Their Bets

In other news, CEO Adam J. Greenlee sold 125,000 shares of the company's 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 owns 227,332 shares of the company's stock, valued at $12,441,880.36. This represents a 35.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert B. Lewis sold 20,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 152,133 shares of the company's stock, valued at approximately $8,096,518.26. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company's stock.

Silgan Company 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.