Wellington Management Group LLP Sells 143,492 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Wellington Management Group LLP lessened its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,420,042 shares of the industrial products company's stock after selling 143,492 shares during the period. Wellington Management Group LLP owned 2.27% of Silgan worth $125,963,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Oddo BHF Asset Management Sas acquired a new position in Silgan during the 3rd quarter worth $2,975,000. BNP Paribas Financial Markets raised its position in shares of Silgan by 144.1% during the third quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company's stock worth $2,884,000 after acquiring an additional 32,432 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of Silgan during the fourth quarter valued at $620,000. Geode Capital Management LLC boosted its holdings in Silgan by 11.7% in the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company's stock valued at $78,509,000 after acquiring an additional 157,160 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Silgan in the fourth quarter worth about $1,142,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Truist Financial reaffirmed a "buy" rating and issued a $70.00 target price (up previously from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Bank of America raised their price objective on shares of Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Monday, January 6th. JPMorgan Chase & Co. increased their price target on Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Royal Bank of Canada raised 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. Finally, Robert W. Baird upped their price objective on 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, Silgan currently has an average rating of "Moderate Buy" and a consensus price target of $64.22.

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Insider Buying and Selling

In other news, CEO Adam J. Greenlee sold 125,000 shares of the company'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 completion of the transaction, the chief executive officer now directly owns 227,332 shares of the company's stock, valued at $12,441,880.36. This 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 this hyperlink. 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 value of $1,064,400.00. Following the completion of the sale, the executive vice president now owns 152,133 shares in the company, valued at $8,096,518.26. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

Silgan Trading Up 3.3 %

Silgan stock traded up $1.52 during mid-day trading on Tuesday, hitting $47.52. 419,956 shares of the company's stock were exchanged, compared to its average volume of 769,311. The company's 50 day simple moving average is $52.27 and its 200-day simple moving average is $52.70. 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 capitalization of $5.07 billion, a P/E ratio of 18.41, a PEG ratio of 1.27 and a beta of 0.81. 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 EPS 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%. On average, equities analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.20 per share. This is an increase from Silgan's previous quarterly dividend of $0.19. The ex-dividend date was Monday, March 17th. This represents a $0.80 annualized dividend and a dividend yield of 1.68%. Silgan's dividend payout ratio is currently 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.