Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 713,825 shares of the industrial products company's stock after selling 58,235 shares during the period. Bank of America Corp DE owned 0.67% of Silgan worth $37,155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of Silgan by 23.6% during the 3rd quarter. Barclays PLC now owns 57,327 shares of the industrial products company's stock worth $3,010,000 after acquiring an additional 10,936 shares during the period. Assenagon Asset Management S.A. acquired a new position in Silgan in the fourth quarter valued at approximately $1,142,000. Ritholtz Wealth Management purchased a new position in Silgan in the fourth quarter worth approximately $620,000. Fort Washington Investment Advisors Inc. OH increased its stake in Silgan by 5.2% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 385,710 shares of the industrial products company's stock worth $20,076,000 after acquiring an additional 19,080 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Silgan in the fourth quarter valued at $2,563,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank of Canada upped their price target on Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Wells Fargo & Company boosted their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Loop Capital lifted their target price on Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Truist Financial cut their price target on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James upgraded Silgan from an "outperform" rating to a "strong-buy" rating and decreased their price objective for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Silgan currently has a consensus rating of "Buy" and an average target price of $63.11.

Silgan Stock Performance

Silgan stock traded up $0.63 during midday trading on Monday, hitting $56.08. 609,291 shares of the company's stock were exchanged, compared to its average volume of 666,967. The firm's 50 day simple moving average is $50.79 and its 200 day simple moving average is $52.68. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. 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 $6.00 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.48 billion. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. Equities research analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. Silgan's dividend payout ratio (DPR) is presently 29.74%.

Insider Buying and Selling

In related news, VP B Frederik Prinzen sold 2,378 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total transaction of $128,530.90. Following the transaction, the vice president now 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 227,332 shares of the company's stock, valued at $12,441,880.36. The trade was a 35.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by corporate insiders.

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.