Victory Capital Management Inc. Trims Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Victory Capital Management Inc. lowered its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 0.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,131,612 shares of the industrial products company's stock after selling 8,416 shares during the quarter. Victory Capital Management Inc. owned approximately 1.99% of Silgan worth $108,968,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLGN. CX Institutional bought a new position in shares of Silgan during the first quarter worth approximately $42,000. UMB Bank n.a. boosted its holdings in shares of Silgan by 254.9% during the 1st quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock valued at $46,000 after acquiring an additional 645 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Silgan during the 1st quarter worth about $51,000. GeoWealth Management LLC acquired a new position in Silgan during the 4th quarter worth about $56,000. Finally, Continuum Advisory LLC raised its position in shares of Silgan by 2,754.3% in the 1st quarter. Continuum Advisory LLC now owns 1,313 shares of the industrial products company's stock worth $67,000 after acquiring an additional 1,267 shares in the last quarter. Institutional investors own 70.25% of the company's stock.

Silgan Stock Performance

Shares of Silgan stock traded down $0.11 on Friday, hitting $55.23. 687,553 shares of the company's stock were exchanged, compared to its average volume of 670,160. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.67 and a current ratio of 1.14. Silgan Holdings Inc. has a 1 year low of $44.37 and a 1 year high of $58.14. The company has a 50-day simple moving average of $54.88 and a 200-day simple moving average of $52.86. The stock has a market capitalization of $5.91 billion, a PE ratio of 20.53, a PEG ratio of 1.29 and a beta of 0.75.

Silgan (NYSE:SLGN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. Silgan had a net margin of 4.82% and a return on equity of 20.00%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $0.69 EPS. The business's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS 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 given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.45%. Silgan's dividend payout ratio (DPR) is 29.74%.

Analysts Set New Price Targets

SLGN has been the topic of a number of research analyst reports. Truist Financial set a $67.00 target price on Silgan and gave the stock a "buy" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. raised shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price on the stock in a report on Thursday, May 1st. Bank of America reaffirmed a "neutral" rating and issued a $59.00 price target (up previously from $57.00) on shares of Silgan in a report on Wednesday, July 9th. Raymond James Financial reissued a "strong-buy" rating on shares of Silgan in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company upped their price target on shares of Silgan from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Silgan presently has a consensus rating of "Moderate Buy" and an average price target of $63.78.

Insider Activity at Silgan

In other Silgan news, EVP Robert B. Lewis sold 10,000 shares of the company's 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 transaction, the executive vice president owned 153,378 shares in the company, valued at approximately $8,576,897.76. This represents a 6.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $128,530.90. Following the completion of the sale, the vice president 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. 1.13% of the stock is currently owned by corporate insiders.

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.