Balyasny Asset Management L.P. Cuts Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Balyasny Asset Management L.P. cut its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 90.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,468 shares of the industrial products company's stock after selling 60,366 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Silgan were worth $337,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Silgan by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock valued at $464,886,000 after purchasing an additional 455,381 shares during the last quarter. FMR LLC lifted its holdings in Silgan by 12.2% during the 4th quarter. FMR LLC now owns 7,046,400 shares of the industrial products company's stock valued at $366,765,000 after buying an additional 767,944 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Silgan by 12.8% in the 4th quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock worth $301,670,000 after acquiring an additional 656,923 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Silgan by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,062,013 shares of the industrial products company's stock worth $159,377,000 after acquiring an additional 11,836 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Silgan by 0.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,140,028 shares of the industrial products company's stock valued at $111,388,000 after purchasing an additional 9,532 shares during the period. Institutional investors own 70.25% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SLGN. Wells Fargo & Company upped 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 reduced their price target on shares of Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and cut their price objective for the company from $65.00 to $60.00 in a report on Tuesday, April 22nd. Royal Bank of Canada upped their target price on Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $63.11.

Insider Activity at Silgan

In other Silgan news, VP B Frederik Prinzen sold 2,378 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the sale, the vice president now directly owns 1,380 shares of the company's stock, valued at approximately $74,589. This represents a 63.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction dated 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 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. 1.39% of the stock is owned by insiders.

Silgan Stock Down 0.0%

SLGN stock traded down $0.02 on Tuesday, hitting $56.09. 618,272 shares of the company's stock were exchanged, compared to its average volume of 666,773. The firm has a 50 day moving average price of $50.92 and a two-hundred day moving average price of $52.71. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. The stock has a market cap of $6.00 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The company's revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 earnings per share. As a group, equities research analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, June 2nd. Silgan's payout ratio is 29.74%.

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.