Silgan Holdings Inc. (NYSE:SLGN) Position Trimmed by Rhumbline Advisers

Rhumbline Advisers decreased its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 24.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 224,190 shares of the industrial products company's stock after selling 71,519 shares during the period. Rhumbline Advisers owned about 0.21% of Silgan worth $11,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in Silgan by 0.8% during the 4th quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company's stock valued at $1,290,000 after acquiring an additional 195 shares during the last quarter. Central Pacific Bank Trust Division raised its position in shares of Silgan by 5.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,760 shares of the industrial products company's stock valued at $192,000 after acquiring an additional 210 shares in the last quarter. Aristeia Capital L.L.C. lifted its stake in Silgan by 4.0% during the fourth quarter. Aristeia Capital L.L.C. now owns 5,488 shares of the industrial products company's stock worth $286,000 after purchasing an additional 212 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in Silgan by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 36,440 shares of the industrial products company's stock worth $1,897,000 after purchasing an additional 230 shares during the period. Finally, Synovus Financial Corp increased its stake in Silgan by 1.6% during the fourth quarter. Synovus Financial Corp now owns 22,721 shares of the industrial products company's stock valued at $1,183,000 after purchasing an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company's stock.

Insider Buying and Selling at Silgan

In related news, 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 transaction, the executive vice president now owns 153,378 shares of the company's stock, valued at approximately $8,576,897.76. This trade represents a 6.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the vice president now directly owns 1,380 shares of the company's stock, valued at $74,589. This represents a 63.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.13% of the stock is owned by corporate insiders.

Silgan Stock Performance

SLGN stock traded down $0.34 during trading on Wednesday, reaching $54.56. 642,438 shares of the company's stock were exchanged, compared to its average volume of 665,320. The firm has a market cap of $5.84 billion, a PE ratio of 21.15, a P/E/G ratio of 1.27 and a beta of 0.76. 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 Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14. The company's fifty day moving average price is $52.32 and its 200-day moving average price is $52.76.

Silgan (NYSE:SLGN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the firm posted $0.69 EPS. Silgan's revenue was up 11.4% compared to the same quarter last year. On average, research analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, June 2nd. Silgan's payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SLGN shares. Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the company from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Citigroup upped their target price on Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Truist Financial cut their price target on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $63.11.

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.