ProShare Advisors LLC Sells 32,614 Shares of Silgan Holdings Inc. (NYSE:SLGN)

ProShare Advisors LLC cut its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 4.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 656,286 shares of the industrial products company's stock after selling 32,614 shares during the period. ProShare Advisors LLC owned about 0.61% of Silgan worth $34,160,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ritholtz Wealth Management acquired a new position in shares of Silgan in the 4th quarter valued at about $620,000. Assenagon Asset Management S.A. acquired a new position in shares of Silgan in the 4th quarter valued at about $1,142,000. Janney Montgomery Scott LLC acquired a new position in shares of Silgan in the 4th quarter valued at about $2,563,000. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Silgan by 5.2% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 385,710 shares of the industrial products company's stock valued at $20,076,000 after buying an additional 19,080 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Silgan in the 4th quarter valued at about $873,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Silgan

In other news, CEO Adam J. Greenlee sold 125,000 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the sale, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. The trade was a 35.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP B Frederik Prinzen sold 2,378 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now directly owns 1,380 shares of the company's stock, valued at $74,589. This represents a 63.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company's stock.

Silgan Price Performance

Shares of SLGN stock traded up $0.63 during midday trading on Monday, reaching $56.08. 609,291 shares of the company were exchanged, compared to its average volume of 666,967. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The company has a market cap of $6.00 billion, a P/E ratio of 21.74, a PEG ratio of 1.27 and a beta of 0.74. The company's 50 day moving average price is $50.79 and its two-hundred day moving average price is $52.68. 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 (NYSE:SLGN - Get Free Report) last issued 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. The firm had revenue of $1.47 billion during 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%. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. On average, sell-side analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, June 2nd. Silgan's dividend payout ratio is presently 29.74%.

Analysts Set New Price Targets

SLGN has been the subject of several research reports. Robert W. Baird lifted their price target on shares of Silgan from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Citigroup boosted their target price on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Royal Bank of Canada boosted their target price on shares of Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and reduced their target price for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Finally, Truist Financial reduced 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. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price 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.