Silgan Holdings Inc. $SLGN Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Silgan Holdings Inc. by 2.5%, now holding approximately 0.82% of the company worth $45 million, after selling nearly 23,000 shares during the first quarter.
• Silgan recently reported quarterly earnings of $1.01 EPS, slightly missing consensus estimates, but saw revenue increase by 11.4% year-over-year, totaling $1.54 billion.
• The company announced a quarterly dividend of $0.20 per share, set to be paid on September 16, representing an annual yield of 1.7% and a payout ratio of 28.47%.

Northern Trust Corp lessened its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 882,050 shares of the industrial products company's stock after selling 22,777 shares during the quarter. Northern Trust Corp owned about 0.82% of Silgan worth $45,090,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Silgan during the 1st quarter valued at approximately $51,000. M&T Bank Corp raised its position in shares of Silgan by 6.9% during the 1st quarter. M&T Bank Corp now owns 18,135 shares of the industrial products company's stock valued at $927,000 after buying an additional 1,165 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Silgan by 13.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,903 shares of the industrial products company's stock valued at $353,000 after buying an additional 815 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Silgan by 1.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 49,933 shares of the industrial products company's stock valued at $2,553,000 after buying an additional 695 shares during the period. Finally, CX Institutional purchased a new stake in shares of Silgan during the 1st quarter valued at approximately $42,000. 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 $0.82 during trading on Tuesday, hitting $46.11. The company's stock had a trading volume of 1,174,854 shares, compared to its average volume of 920,320. The business has a 50 day moving average price of $50.97 and a two-hundred day moving average price of $51.87. The company has a market capitalization of $4.93 billion, a PE ratio of 16.41, a P/E/G ratio of 1.22 and a beta of 0.71. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.96. Silgan Holdings Inc. has a fifty-two week low of $44.37 and a fifty-two week high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Silgan had a return on equity of 19.98% and a net margin of 4.90%.The business's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. Silgan has set its Q3 2025 guidance at 1.180-1.280 EPS. FY 2025 guidance at 3.850-4.050 EPS. As a group, research analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.20 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. Silgan's payout ratio is 28.47%.

Analysts Set New Price Targets

Several analysts recently weighed in on SLGN shares. Raymond James Financial dropped their target price on shares of Silgan from $64.00 to $60.00 and set a "strong-buy" rating for the company in a report on Thursday, July 31st. Wells Fargo & Company lifted their target price on shares of Silgan from $60.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Royal Bank Of Canada dropped their target price on shares of Silgan from $64.00 to $57.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Bank of America upgraded shares of Silgan from a "neutral" rating to a "buy" rating and lifted their target price for the company from $53.00 to $57.00 in a report on Thursday, August 28th. Finally, Truist Financial lifted their target price on shares of Silgan from $62.00 to $67.00 and gave the company a "buy" rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $62.22.

Insider Activity at Silgan

In related news, EVP Robert B. Lewis sold 11,000 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $46.70, for a total transaction of $513,700.00. Following the completion of the transaction, the executive vice president owned 142,378 shares in the company, valued at approximately $6,649,052.60. The trade was a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.