Alliancebernstein L.P. Has $26.23 Million Stake in Silgan Holdings Inc. $SLGN

Key Points

• Alliancebernstein L.P. reduced its stake in Silgan Holdings Inc. by 12.6%, selling 73,741 shares, and now owns 513,095 shares valued at $26.2 million.
• In contrast, other hedge funds like Millennium Management LLC and Wellington Management Group LLP significantly increased their holdings in Silgan, indicating high institutional interest.
• Silgan recently declared a quarterly dividend of $0.20 per share, with a current dividend yield of 1.8% and an outlook for earnings per share (EPS) between 3.850-4.050 for FY 2025.

Alliancebernstein L.P. cut its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 12.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 513,095 shares of the industrial products company's stock after selling 73,741 shares during the quarter. Alliancebernstein L.P. owned about 0.48% of Silgan worth $26,229,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SLGN. Gotham Asset Management LLC lifted its holdings in shares of Silgan by 90.5% during the fourth quarter. Gotham Asset Management LLC now owns 51,944 shares of the industrial products company's stock worth $2,704,000 after buying an additional 24,676 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Silgan by 36.1% during the fourth quarter. Janus Henderson Group PLC now owns 1,515,582 shares of the industrial products company's stock worth $78,885,000 after buying an additional 401,890 shares during the last quarter. Millennium Management LLC raised its stake in shares of Silgan by 764.7% in the fourth quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company's stock valued at $52,708,000 after purchasing an additional 895,528 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Silgan in the fourth quarter valued at $561,000. Finally, Man Group plc raised its stake in shares of Silgan by 6.5% in the fourth quarter. Man Group plc now owns 127,003 shares of the industrial products company's stock valued at $6,611,000 after purchasing an additional 7,773 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLGN has been the subject of a number of recent research reports. Bank of America upgraded Silgan from a "neutral" rating to a "buy" rating and upped their target price for the company from $53.00 to $57.00 in a research note on Thursday, August 28th. Wells Fargo & Company increased their price objective on Silgan from $60.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Truist Financial increased their price objective on Silgan from $62.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Raymond James Financial dropped their price objective on Silgan from $64.00 to $60.00 and set a "strong-buy" rating for the company in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada dropped their price objective on Silgan from $64.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $62.22.

Insider Transactions at Silgan

In related news, EVP Robert B. Lewis sold 11,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $46.70, for a total value of $513,700.00. Following the transaction, the executive vice president owned 142,378 shares in the company, valued at $6,649,052.60. This trade represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.13% of the stock is currently owned by corporate insiders.

Silgan Price Performance

Shares of SLGN stock traded down $0.51 during trading hours on Friday, hitting $44.01. 1,314,512 shares of the company's stock were exchanged, compared to its average volume of 963,681. The stock's 50-day moving average is $49.22 and its 200-day moving average is $51.33. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.56. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 1.16 and a beta of 0.71. Silgan Holdings Inc. has a 52 week low of $43.76 and a 52 week high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.02). The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Silgan had a net margin of 4.90% and a return on equity of 19.98%. Silgan's revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 EPS. Silgan has set its Q3 2025 guidance at 1.180-1.280 EPS. FY 2025 guidance at 3.850-4.050 EPS. As a group, research analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $0.20 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.80 annualized dividend and a yield of 1.8%. Silgan's dividend payout ratio (DPR) is currently 28.47%.

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.