Silgan Holdings Inc. $SLGN Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Silgan Holdings Inc. by 43.5%, holding 9,638 shares valued at $492,000 after selling 7,431 shares in the first quarter.
• Other institutional investors have increased their positions, with Millennium Management LLC growing its stake by 764.7%, owning over 1 million shares worth approximately $52.7 million.
• Silgan's most recent earnings report indicated $1.01 EPS, below the consensus estimate, but revenue was up 11.4% year-over-year at $1.54 billion.

Hsbc Holdings PLC decreased its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 43.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,638 shares of the industrial products company's stock after selling 7,431 shares during the quarter. Hsbc Holdings PLC's holdings in Silgan were worth $492,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in Silgan by 8.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 50,457 shares of the industrial products company's stock worth $2,627,000 after acquiring an additional 4,030 shares during the last quarter. Voya Investment Management LLC increased its stake in Silgan by 8.6% during the fourth quarter. Voya Investment Management LLC now owns 11,711 shares of the industrial products company's stock worth $610,000 after acquiring an additional 929 shares during the last quarter. Northern Trust Corp increased its stake in Silgan by 24.9% during the fourth quarter. Northern Trust Corp now owns 904,827 shares of the industrial products company's stock worth $47,096,000 after acquiring an additional 180,119 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Silgan during the fourth quarter worth $724,000. Finally, Comerica Bank increased its stake in Silgan by 22.3% during the fourth quarter. Comerica Bank now owns 44,809 shares of the industrial products company's stock worth $2,332,000 after acquiring an additional 8,181 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company's stock.

Silgan Price Performance

NYSE:SLGN traded up $0.27 during trading hours on Thursday, reaching $44.84. 1,446,396 shares of the company traded hands, compared to its average volume of 818,938. Silgan Holdings Inc. has a 1-year low of $44.36 and a 1-year high of $58.14. The firm's 50-day moving average is $50.77 and its 200-day moving average is $51.82. 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 $4.80 billion, a P/E ratio of 15.96, a P/E/G ratio of 1.22 and a beta of 0.71.

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

Silgan Announces Dividend

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

Insider Buying and Selling

In other Silgan 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 directly owned 142,378 shares of the company's stock, 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 document filed with the SEC, which is available through this hyperlink. 1.13% of the stock is owned by company insiders.

Analyst Ratings Changes

SLGN has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on Silgan from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Bank of America raised Silgan from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $53.00 to $57.00 in a research note on Thursday, August 28th. Royal Bank Of Canada lowered their target price on Silgan from $64.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Raymond James Financial lowered their target price 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, 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. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat, Silgan presently has an average rating of "Buy" and a consensus target price of $62.22.

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.