Frontier Capital Management Co. LLC Cuts Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Frontier Capital Management Co. LLC trimmed its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 830,191 shares of the industrial products company's stock after selling 6,381 shares during the quarter. Frontier Capital Management Co. LLC owned 0.78% of Silgan worth $43,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in SLGN. Barclays PLC grew its holdings in shares of Silgan by 23.6% in the third quarter. Barclays PLC now owns 57,327 shares of the industrial products company's stock valued at $3,010,000 after purchasing an additional 10,936 shares in the last quarter. GAMMA Investing LLC grew its holdings in Silgan by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company's stock worth $137,000 after acquiring an additional 863 shares during the period. Assenagon Asset Management S.A. acquired a new position in Silgan during the fourth quarter worth $1,142,000. Ritholtz Wealth Management acquired a new position in shares of Silgan during the 4th quarter worth approximately $620,000. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in Silgan by 5.2% during 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 during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Silgan Trading Down 0.3 %

Shares of SLGN traded down $0.17 on Friday, reaching $53.64. 664,782 shares of the company's stock were exchanged, compared to its average volume of 664,189. The stock has a market capitalization of $5.74 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74. The business has a 50 day moving average price of $50.50 and a two-hundred day moving average price of $52.56. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) 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 analysts' expectations of $1.48 billion. Silgan had a net margin of 4.72% and a return on equity of 19.70%. Silgan's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. Research analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Monday, June 2nd. Silgan's dividend payout ratio is currently 29.74%.

Insider Activity

In related news, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total value of $1,064,400.00. Following the sale, the executive vice president now owns 152,133 shares in the company, valued at $8,096,518.26. The trade was a 11.62 % 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, CEO Adam J. Greenlee sold 125,000 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the sale, the chief executive officer now owns 227,332 shares of the company's stock, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,378 shares of company stock worth $8,034,181 over the last 90 days. 1.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SLGN shares. Truist Financial decreased their target price on shares of Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company raised their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Loop Capital raised their target price on Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective for the company in a research report on Thursday, May 1st. Finally, Raymond James upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and dropped their target price for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $63.11.

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.