Silgan Holdings Inc. (NYSE:SLGN) Holdings Trimmed by State of Wyoming

State of Wyoming trimmed its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 39.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,001 shares of the industrial products company's stock after selling 5,203 shares during the quarter. State of Wyoming's holdings in Silgan were worth $416,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC increased its stake in Silgan by 23.6% during the third quarter. Barclays PLC now owns 57,327 shares of the industrial products company's stock worth $3,010,000 after acquiring an additional 10,936 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Silgan during the 4th quarter worth approximately $1,142,000. Ritholtz Wealth Management purchased a new position in Silgan in the fourth quarter valued at approximately $620,000. Fort Washington Investment Advisors Inc. OH increased its position in shares of Silgan by 5.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 385,710 shares of the industrial products company's stock worth $20,076,000 after acquiring an additional 19,080 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Silgan in the fourth quarter worth $2,563,000. Institutional investors and hedge funds own 70.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SLGN. Citigroup lifted their target price on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Loop Capital boosted their price objective on Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Wells Fargo & Company upped their target price on Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Robert W. Baird raised their target price on Silgan from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Truist Financial decreased their price target on Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Silgan presently has an average rating of "Buy" and an average target price of $63.11.

Silgan Stock Down 0.8%

Shares of NYSE:SLGN traded down $0.42 during trading on Monday, hitting $54.50. The company's stock had a trading volume of 392,417 shares, compared to its average volume of 665,370. The company has a market capitalization of $5.83 billion, a PE ratio of 21.12, a PEG ratio of 1.27 and a beta of 0.74. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. The stock's 50-day moving average price is $51.38 and its two-hundred day moving average price is $52.76.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping 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 19.70% and a net margin of 4.72%. Silgan's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 EPS. As a group, sell-side analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.47%. Silgan's payout ratio is 29.74%.

Insider Buying and Selling

In related news, EVP Robert B. Lewis sold 10,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 153,378 shares in the company, valued at $8,576,897.76. The trade was a 6.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the sale, the vice president now directly owns 1,380 shares in the company, 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. 1.39% of the stock is currently owned by company 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.