Jefferies Financial Group Inc. Decreases Stake in Silgan Holdings Inc. (NYSE:SLGN)

Jefferies Financial Group Inc. lowered its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 44.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,511 shares of the industrial products company's stock after selling 22,421 shares during the period. Jefferies Financial Group Inc.'s holdings in Silgan were worth $1,432,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SLGN. Integrated Advisors Network LLC purchased a new stake in Silgan in the 4th quarter worth approximately $545,000. Mackenzie Financial Corp purchased a new stake in Silgan in the fourth quarter worth $540,000. Alpine Global Management LLC purchased a new stake in Silgan in the fourth quarter worth $800,000. PharVision Advisers LLC purchased a new stake in Silgan in the fourth quarter worth $392,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Silgan by 10.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 199,202 shares of the industrial products company's stock worth $10,368,000 after purchasing an additional 18,670 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Silgan

In other Silgan news, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the completion of the transaction, the vice president now directly owns 1,380 shares of the company's stock, valued at approximately $74,589. The trade was a 63.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Lewis sold 10,000 shares of Silgan stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $55.92, for a total transaction of $559,200.00. Following the completion of the transaction, the executive vice president now directly owns 153,378 shares of the company's stock, valued at $8,576,897.76. This trade represents 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 company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and dropped their target price for the stock from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Truist Financial lowered their price objective on shares of Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upgraded shares of 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. Finally, Citigroup raised their price objective on shares of Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $63.11.

Silgan Stock Up 0.1%

NYSE SLGN traded up $0.04 during trading hours on Friday, reaching $55.12. 508,290 shares of the company's stock traded hands, compared to its average volume of 665,437. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. The firm has a market cap of $5.90 billion, a PE ratio of 21.36, a PEG ratio of 1.27 and a beta of 0.74. The firm has a 50-day simple moving average of $51.88 and a 200 day simple moving average of $52.79. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28.

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

Silgan Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, June 2nd. Silgan's payout ratio is 29.74%.

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.