Northern Trust Corp Cuts Holdings in Silgan Holdings Inc. $SLGN

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 cut 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 Form 13F filing with the SEC. The fund owned 882,050 shares of the industrial products company's stock after selling 22,777 shares during the quarter. Northern Trust Corp owned approximately 0.82% of Silgan worth $45,090,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group boosted its holdings in Silgan by 4,394.1% during the first quarter. Brooklyn Investment Group now owns 764 shares of the industrial products company's stock worth $39,000 after purchasing an additional 747 shares during the last quarter. CX Institutional purchased a new position in Silgan in the first quarter valued at about $42,000. UMB Bank n.a. grew its position in shares of Silgan by 254.9% during the 1st quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock valued at $46,000 after acquiring an additional 645 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Silgan during the 1st quarter worth approximately $51,000. Finally, Continuum Advisory LLC raised its holdings in shares of Silgan by 2,754.3% in the 1st quarter. Continuum Advisory LLC now owns 1,313 shares of the industrial products company's stock worth $67,000 after purchasing an additional 1,267 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Stock Performance

Shares of SLGN stock opened at $46.37 on Thursday. The stock has a market capitalization of $4.96 billion, a P/E ratio of 16.50, a PEG ratio of 1.16 and a beta of 0.69. The company has a current ratio of 0.96, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. The firm's 50 day moving average is $51.58 and its 200 day moving average is $52.05. Silgan Holdings Inc. has a 12 month low of $44.37 and a 12 month high of $58.14.

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

Silgan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Silgan's dividend payout ratio is 28.47%.

Wall Street Analyst Weigh In

SLGN has been the topic of several research analyst reports. Truist Financial upped their price objective on Silgan from $62.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Bank of America reiterated a "neutral" rating and issued a $59.00 price objective (up previously from $57.00) on shares of Silgan in a research note on Wednesday, July 9th. JPMorgan Chase & Co. upgraded 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. Wells Fargo & Company upped 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. Finally, Royal Bank Of Canada dropped their price objective on Silgan from $64.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Silgan currently has an average rating of "Buy" and a consensus price target of $62.44.

Insiders Place Their Bets

In related news, EVP Robert B. Lewis sold 11,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 142,378 shares of the company's stock, valued at approximately $6,649,052.60. This represents a 7.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.13% of the company's stock.

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.

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