Teacher Retirement System of Texas Sells 22,230 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Teacher Retirement System of Texas lessened its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,802 shares of the industrial products company's stock after selling 22,230 shares during the period. Teacher Retirement System of Texas owned about 0.05% of Silgan worth $2,853,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Silgan during the first quarter valued at about $51,000. Wealth Enhancement Advisory Services LLC raised its holdings in Silgan by 13.4% during the first 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 in the last quarter. Janney Montgomery Scott LLC raised its holdings in Silgan by 1.4% during the first 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 in the last quarter. CX Institutional bought a new position in Silgan during the first quarter valued at about $42,000. Finally, SG Americas Securities LLC bought a new position in Silgan during the first quarter valued at about $302,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the completion of the transaction, the vice president owned 1,380 shares in the company, valued at approximately $74,589. The trade was a 63.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert B. Lewis sold 10,000 shares of Silgan stock in a transaction that occurred on Monday, May 19th. The shares were 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 owned 153,378 shares of the company's stock, valued at $8,576,897.76. This trade represents a 6.12% decrease in their position. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by insiders.

Silgan Stock Performance

SLGN stock traded up $0.18 during trading on Thursday, reaching $55.67. 255,464 shares of the stock were exchanged, compared to its average volume of 664,423. Silgan Holdings Inc. has a twelve month low of $42.34 and a twelve month high of $58.14. The company has a market capitalization of $5.96 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 1.27 and a beta of 0.75. The stock has a 50 day simple moving average of $54.74 and a 200-day simple moving average of $52.72. 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 (NYSE:SLGN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates 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%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 earnings per share. As a group, sell-side analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Monday, June 2nd. Silgan's payout ratio is 29.74%.

Analyst Ratings Changes

A number of equities analysts have recently commented on SLGN shares. Bank of America reiterated a "neutral" rating and issued a $59.00 price objective (up from $57.00) on shares of Silgan in a research note on Wednesday. Raymond James Financial upgraded Silgan from an "outperform" rating to a "strong-buy" rating and dropped their price objective for the stock from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Truist Financial dropped their price objective on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. 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. Finally, Citigroup lifted their price objective on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Silgan currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.89.

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.