Moody National Bank Trust Division Has $899,000 Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Moody National Bank Trust Division trimmed its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 30.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,582 shares of the industrial products company's stock after selling 7,880 shares during the period. Moody National Bank Trust Division's holdings in Silgan were worth $899,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division grew its holdings in shares of Silgan by 5.9% during the first quarter. Central Pacific Bank Trust Division now owns 3,760 shares of the industrial products company's stock valued at $192,000 after buying an additional 210 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Silgan by 10.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,088 shares of the industrial products company's stock valued at $317,000 after acquiring an additional 571 shares in the last quarter. Integrated Advisors Network LLC purchased a new position in Silgan during the 4th quarter valued at about $545,000. Mackenzie Financial Corp acquired a new position in shares of Silgan in the 4th quarter valued at about $540,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Silgan in the fourth quarter worth approximately $800,000. Institutional investors and hedge funds own 70.25% of the company's stock.

Silgan Stock Down 0.6%

Shares of NYSE:SLGN traded down $0.31 on Wednesday, reaching $54.16. The company had a trading volume of 92,555 shares, compared to its average volume of 661,865. The stock has a market capitalization of $5.79 billion, a P/E ratio of 20.99, a P/E/G ratio of 1.27 and a beta of 0.74. The stock has a 50-day moving average price of $51.99 and a 200 day moving average price of $52.80. Silgan Holdings Inc. has a twelve month low of $41.14 and a twelve month 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.

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

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.48%. Silgan's payout ratio is presently 29.74%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, VP B Frederik Prinzen sold 2,378 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were 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 represents 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 the SEC website. 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 value of $559,200.00. Following the sale, the executive vice president now directly owns 153,378 shares in the company, valued at approximately $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 insiders.

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.