Leeward Investments LLC MA trimmed its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,217 shares of the industrial products company's stock after selling 11,928 shares during the period. Leeward Investments LLC MA owned about 0.15% of Silgan worth $8,339,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of SLGN. FMR LLC grew its holdings 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 worth $329,619,000 after buying an additional 2,932,680 shares in the last quarter. Weiss Asset Management LP purchased a new stake in Silgan in the 3rd quarter worth approximately $11,422,000. Two Sigma Advisers LP raised its holdings in Silgan by 202.3% in the 3rd quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company's stock valued at $13,015,000 after acquiring an additional 165,900 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Silgan by 11.7% during 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 purchasing an additional 157,160 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Silgan by 13.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 815,468 shares of the industrial products company's stock worth $42,812,000 after purchasing an additional 97,381 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Silgan
In related news, CEO Adam J. Greenlee sold 125,000 shares of the 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 sale, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total value 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 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. Insiders own 1.39% of the company's stock.
Silgan Trading Down 1.9 %
Shares of SLGN stock traded down $1.05 during mid-day trading on Thursday, reaching $53.67. The company's stock had a trading volume of 604,134 shares, compared to its average volume of 670,867. The company's 50 day simple moving average is $53.05 and its 200-day simple moving average is $52.68. The firm has a market capitalization of $5.73 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14.
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%. On average, research analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.
Silgan Increases Dividend
The firm 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. This is a boost from Silgan's previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 17th. Silgan's dividend payout ratio is 29.46%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. Bank of America upped their target price on Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Royal Bank of Canada upped their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an "outperform" rating 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 research report on Thursday, January 30th. Truist Financial reaffirmed a "buy" rating and set a $70.00 price target (up previously from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Finally, Robert W. Baird lifted their price target on shares of Silgan from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $64.22.
Check Out Our Latest Stock Analysis on SLGN
About Silgan
(
Free Report)
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.
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