ProShare Advisors LLC Has $34.16 Million Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

ProShare Advisors LLC trimmed its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 656,286 shares of the industrial products company's stock after selling 32,614 shares during the period. ProShare Advisors LLC owned approximately 0.61% of Silgan worth $34,160,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SLGN. Ritholtz Wealth Management purchased a new position in shares of Silgan during the fourth quarter worth about $620,000. Assenagon Asset Management S.A. acquired a new stake in Silgan in the fourth quarter valued at about $1,142,000. Janney Montgomery Scott LLC acquired a new stake in Silgan in the fourth quarter valued at about $2,563,000. Fort Washington Investment Advisors Inc. OH lifted its position in Silgan by 5.2% in the fourth 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 purchasing an additional 19,080 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Silgan in the fourth quarter valued at about $873,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Silgan

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

Silgan Price Performance

NYSE SLGN traded down $0.86 on Wednesday, reaching $55.29. The company's stock had a trading volume of 132,826 shares, compared to its average volume of 664,846. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. The firm has a market cap of $5.92 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The business has a 50-day moving average price of $51.07 and a 200 day moving average price of $52.73.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. Silgan's revenue was up 11.4% compared to the same quarter last year. Sell-side analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.45%. Silgan's payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SLGN. JPMorgan Chase & Co. upgraded 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. Robert W. Baird increased their price target on shares of Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Royal Bank of Canada boosted their target price on Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Wells Fargo & Company lifted their price target 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. Finally, Raymond James upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and lowered their price target for the company from $65.00 to $60.00 in a report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Silgan currently has a consensus rating of "Buy" and an average price target of $63.11.

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.