Segall Bryant & Hamill LLC trimmed its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 15.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,092,579 shares of the industrial products company's stock after selling 198,863 shares during the quarter. Silgan makes up approximately 0.9% of Segall Bryant & Hamill LLC's holdings, making the stock its 10th biggest position. Segall Bryant & Hamill LLC owned 1.02% of Silgan worth $55,853,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hohimer Wealth Management LLC boosted its stake in Silgan by 4.8% in the 1st quarter. Hohimer Wealth Management LLC now owns 8,411 shares of the industrial products company's stock worth $430,000 after purchasing an additional 388 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Silgan by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the industrial products company's stock worth $1,160,000 after acquiring an additional 200 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Silgan by 27.3% during the 1st quarter. New York State Common Retirement Fund now owns 146,698 shares of the industrial products company's stock worth $7,499,000 after acquiring an additional 31,447 shares in the last quarter. Robeco Schweiz AG raised its holdings in shares of Silgan by 35.4% during the 1st quarter. Robeco Schweiz AG now owns 217,187 shares of the industrial products company's stock worth $11,103,000 after acquiring an additional 56,739 shares in the last quarter. Finally, State of Michigan Retirement System raised its holdings in shares of Silgan by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 19,400 shares of the industrial products company's stock worth $992,000 after acquiring an additional 200 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.
Silgan Trading Down 0.2%
NYSE:SLGN traded down $0.11 during midday trading on Friday, hitting $55.23. 687,553 shares of the company traded hands, compared to its average volume of 669,187. The firm's fifty day moving average is $54.88 and its 200-day moving average is $52.84. The firm has a market capitalization of $5.91 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.29 and a beta of 0.75. The company has a current ratio of 1.14, a quick ratio of 0.67 and a debt-to-equity ratio of 1.67. 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 data on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a return on equity of 20.00% and a net margin of 4.82%. Silgan's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 EPS. On average, sell-side analysts predict 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 was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Monday, June 2nd. Silgan's dividend payout ratio (DPR) is presently 29.74%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the company. Bank of America reaffirmed a "neutral" rating and set a $59.00 price objective (up from $57.00) on shares of Silgan in a report on Wednesday, July 9th. Wells Fargo & Company upped their price objective on Silgan from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday. Truist Financial set a $67.00 price objective on Silgan and gave the stock a "buy" rating in a report on Friday, July 11th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Silgan in a report on Tuesday. Finally, Citigroup upped their price objective on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $63.78.
Read Our Latest Research Report on Silgan
Insider Buying and Selling at Silgan
In other news, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.92, for a total transaction of $559,200.00. Following the transaction, the executive vice president owned 153,378 shares of the company's stock, valued at approximately $8,576,897.76. This represents a 6.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP B Frederik Prinzen sold 2,378 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total value of $128,530.90. Following the transaction, the vice president directly owned 1,380 shares in the company, valued at $74,589. The trade was a 63.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.13% of the company's stock.
Silgan Profile
(
Free Report)
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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