Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP reduced its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 64.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,800 shares of the industrial products company's stock after selling 160,100 shares during the quarter. Two Sigma Advisers LP owned 0.08% of Silgan worth $4,570,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Silgan by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock valued at $464,886,000 after buying an additional 455,381 shares during the last quarter. FMR LLC grew its holdings in shares of Silgan by 12.2% during the fourth quarter. FMR LLC now owns 7,046,400 shares of the industrial products company's stock valued at $366,765,000 after buying an additional 767,944 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Silgan by 12.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock worth $301,670,000 after purchasing an additional 656,923 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Silgan by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,062,013 shares of the industrial products company's stock worth $159,377,000 after purchasing an additional 11,836 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Silgan by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,140,028 shares of the industrial products company's stock worth $111,388,000 after purchasing an additional 9,532 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Silgan

In other Silgan news, EVP Robert B. Lewis sold 10,000 shares of the business's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP B Frederik Prinzen sold 2,378 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total transaction of $128,530.90. Following the transaction, the vice president now owns 1,380 shares in the company, valued at $74,589. This trade represents a 63.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SLGN shares. Citigroup boosted their price target on shares of Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Truist Financial lowered their price objective on shares of Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company lifted their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the stock from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Finally, Loop Capital lifted their price objective on shares of Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Silgan currently has an average rating of "Buy" and an average price target of $63.11.

Silgan Stock Down 0.6%

Shares of Silgan stock traded down $0.32 during trading on Friday, hitting $54.77. The company's stock had a trading volume of 62,598 shares, compared to its average volume of 750,857. The company has a market capitalization of $5.86 billion, a PE ratio of 21.21, a P/E/G ratio of 1.27 and a beta of 0.74. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The company has a fifty day simple moving average of $51.78 and a two-hundred day simple moving average of $52.80.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. Equities research analysts predict that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Announces Dividend

The company 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Monday, June 2nd. Silgan's dividend payout ratio is currently 29.74%.

About Silgan

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.