Bank of America Corp DE Sells 294,733 Shares of Silgan Holdings Inc. $SLGN

Key Points

• Bank of America reduced its Silgan Holdings stake by 10.5%, selling 294,733 shares in the first quarter while retaining 2.52 million shares worth approximately $97.8 million. Institutional investors collectively own 70.25% of SLGN.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $53.30. Bank of America raised its target to $58, while Wells Fargo increased its target to $56.
• Silgan exceeded quarterly expectations with EPS of $0.98 versus the $0.96 consensus and revenue of $1.64 billion. The company also declared a quarterly dividend of $0.21, equivalent to an annualized yield of about 2.0%.

Bank of America Corp DE reduced its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 10.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,521,001 shares of the industrial products company's stock after selling 294,733 shares during the period. Bank of America Corp DE owned about 2.39% of Silgan worth $97,815,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its stake in Silgan by 2,525.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 735 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 707 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Silgan in the third quarter worth $33,000. EverSource Wealth Advisors LLC raised its stake in shares of Silgan by 627.2% in the second quarter. EverSource Wealth Advisors LLC now owns 669 shares of the industrial products company's stock valued at $36,000 after buying an additional 577 shares during the period. Danske Bank A S lifted its position in shares of Silgan by 233.3% during the 4th quarter. Danske Bank A S now owns 1,000 shares of the industrial products company's stock valued at $40,000 after buying an additional 700 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Silgan by 37.4% during the 4th quarter. Fifth Third Bancorp now owns 1,084 shares of the industrial products company's stock worth $44,000 after acquiring an additional 295 shares during the period. Hedge funds and other institutional investors own 70.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SLGN. Weiss Ratings raised shares of Silgan from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 15th. Wells Fargo & Company reiterated an "overweight" rating and issued a $56.00 target price (up from $55.00) on shares of Silgan in a research note on Thursday, April 30th. Bank of America boosted their price target on shares of Silgan from $53.00 to $58.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Royal Bank Of Canada restated a "sector perform" rating and set a $51.00 price target (up from $49.00) on shares of Silgan in a research note on Thursday, July 9th. Finally, Truist Financial reduced their price objective on shares of Silgan from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.30.

Silgan Trading Up 0.4%

NYSE SLGN opened at $41.70 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.33 and a debt-to-equity ratio of 1.58. Silgan Holdings Inc. has a 1-year low of $35.68 and a 1-year high of $49.55. The firm has a market cap of $4.41 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.42 and a beta of 0.68. The stock has a 50-day moving average of $42.97 and a 200-day moving average of $42.46.

Silgan (NYSE:SLGN - Get Free Report) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.62 billion. Silgan had a return on equity of 16.74% and a net margin of 4.05%.Silgan's quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. Silgan has set its FY 2026 guidance at 3.730-3.930 EPS and its Q3 2026 guidance at 1.210-1.310 EPS. As a group, sell-side analysts forecast that Silgan Holdings Inc. will post 3.81 EPS for the current year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.21 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.84 annualized dividend and a yield of 2.0%. Silgan's payout ratio is 32.94%.

Silgan Profile

Silgan Holdings Inc NYSE: SLGN is a leading supplier of rigid packaging solutions for consumer goods manufacturers. The company's core business activities center on the design, production and distribution of metal and plastic containers, closures and dispense systems. Silgan serves a broad array of end markets, including food and beverage, home and personal care, health care and industrial products, providing both standard and custom packaging formats.

Founded in 1987 and headquartered in Stamford, Connecticut, Silgan has grown organically and through strategic acquisitions to establish a global manufacturing footprint.

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