Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 102,649 shares of the industrial products company's stock after selling 5,384 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of Silgan worth $5,247,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SLGN. Millennium Management LLC boosted its position in shares of Silgan by 764.7% during the fourth quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company's stock worth $52,708,000 after buying an additional 895,528 shares during the period. FMR LLC boosted its position 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 worth $366,765,000 after buying an additional 767,944 shares during the period. Norges Bank purchased a new position in shares of Silgan during the fourth quarter worth $38,680,000. JPMorgan Chase & Co. boosted its position in shares of Silgan by 12.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock worth $301,670,000 after buying an additional 656,923 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Silgan by 87.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,253,727 shares of the industrial products company's stock worth $65,257,000 after buying an additional 584,840 shares during the period. Hedge funds and other institutional investors own 70.25% of the company's stock.

Silgan Stock Up 0.5%

Shares of NYSE SLGN traded up $0.30 during midday trading on Friday, hitting $55.67. 579,197 shares of the company's stock were exchanged, compared to its average volume of 601,705. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.14 and a quick ratio of 0.67. Silgan Holdings Inc. has a twelve month low of $44.37 and a twelve month high of $58.14. The company has a market cap of $5.96 billion, a PE ratio of 20.70, a P/E/G ratio of 1.29 and a beta of 0.75. The firm's fifty day simple moving average is $54.97 and its 200-day simple moving average is $52.99.

Silgan (NYSE:SLGN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a return on equity of 20.00% and a net margin of 4.82%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. Research analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.44%. The ex-dividend date was Monday, June 2nd. Silgan's dividend payout ratio (DPR) is 29.74%.

Analyst Ratings Changes

SLGN has been the subject of several research analyst reports. Bank of America restated a "neutral" rating and set a $59.00 price target (up from $57.00) on shares of Silgan in a research report on Wednesday, July 9th. Citigroup boosted their target price on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Truist Financial boosted their target price 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 reissued a "strong-buy" rating on shares of Silgan in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company boosted their target price on Silgan from $60.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.78.

Insider Activity at Silgan

In other Silgan news, VP B Frederik Prinzen sold 2,378 shares of the company's 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 completion of the sale, the vice president directly owned 1,380 shares of the company's stock, valued at $74,589. This represents a 63.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Lewis sold 10,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president directly owned 153,378 shares of the company's stock, valued at approximately $8,576,897.76. This represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.13% of the company's stock.

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.