Deutsche Bank AG Lowers Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Deutsche Bank AG trimmed its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 60.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,471 shares of the industrial products company's stock after selling 11,428 shares during the quarter. Deutsche Bank AG's holdings in Silgan were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLGN. Dean Capital Management increased its position in shares of Silgan by 40.8% during the 4th quarter. Dean Capital Management now owns 61,088 shares of the industrial products company's stock valued at $3,180,000 after purchasing an additional 17,706 shares during the last quarter. Crestline Management LP bought a new stake in shares of Silgan in the fourth quarter worth $785,000. Brevan Howard Capital Management LP grew its holdings in shares of Silgan by 95.9% in the fourth quarter. Brevan Howard Capital Management LP now owns 27,817 shares of the industrial products company's stock worth $1,448,000 after acquiring an additional 13,621 shares during the period. Ancora Advisors LLC lifted its position in shares of Silgan by 15.3% in the fourth quarter. Ancora Advisors LLC now owns 9,030 shares of the industrial products company's stock valued at $470,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Aristeia Capital L.L.C. lifted its position in shares of Silgan by 4.0% in the fourth quarter. Aristeia Capital L.L.C. now owns 5,488 shares of the industrial products company's stock valued at $286,000 after acquiring an additional 212 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Silgan Price Performance

Shares of NYSE:SLGN traded up $0.53 during trading on Tuesday, reaching $54.45. 107,132 shares of the company's stock traded hands, compared to its average volume of 662,517. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. 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 cap of $5.83 billion, a PE ratio of 21.10, a P/E/G ratio of 1.27 and a beta of 0.74. The company has a 50-day simple moving average of $51.93 and a 200-day simple moving average of $52.78.

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

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, June 2nd. Silgan's payout ratio is presently 29.74%.

Insider Activity

In other Silgan news, EVP Robert B. Lewis sold 10,000 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the completion of the transaction, the executive vice president now owns 153,378 shares in the company, valued at $8,576,897.76. The trade was a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP B Frederik Prinzen sold 2,378 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total transaction of $128,530.90. Following the completion of the transaction, the vice president now owns 1,380 shares of the company's stock, valued at approximately $74,589. This trade represents a 63.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.13% of the company's stock.

Analyst Ratings Changes

SLGN has been the topic of a number of recent research reports. Truist Financial decreased their price objective on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Citigroup upped their target price on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Raymond James upgraded Silgan from an "outperform" rating to a "strong-buy" rating and lowered their target price for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $63.11.

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.