Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Deutsche Bank AG

Deutsche Bank AG decreased its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 60.5% in the 4th quarter, according to its most recent Form 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 period. Deutsche Bank AG's holdings in Silgan were worth $389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its stake in shares of Silgan by 12.2% during the fourth quarter. FMR LLC now owns 7,046,400 shares of the industrial products company's stock valued at $366,765,000 after acquiring an additional 767,944 shares during the last quarter. Norges Bank purchased a new stake in Silgan during the 4th quarter valued at $38,680,000. JPMorgan Chase & Co. lifted its position in Silgan by 12.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock valued at $301,670,000 after purchasing an additional 656,923 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Silgan by 87.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,253,727 shares of the industrial products company's stock valued at $65,257,000 after purchasing an additional 584,840 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Silgan by 5.4% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 70.25% of the company's stock.

Silgan Stock Down 1.7%

Shares of NYSE SLGN traded down $0.94 during trading hours on Wednesday, hitting $53.53. 412,637 shares of the stock were exchanged, compared to its average volume of 663,558. The firm has a fifty day moving average price of $52.05 and a 200-day moving average price of $52.80. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The company has a market cap of $5.73 billion, a PE ratio of 20.75, a PEG ratio of 1.27 and a beta of 0.74.

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

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.49%. The ex-dividend date is Monday, June 2nd. Silgan's payout ratio is 29.74%.

Analyst Ratings Changes

SLGN has been the subject of several recent analyst reports. Truist Financial dropped their price target on Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and reduced their target price for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Citigroup lifted their target price on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $63.11.

Insiders Place Their Bets

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

Silgan Company 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.