Russell Investments Group Ltd. Sells 13,286 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Russell Investments Group Ltd. reduced its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 200,770 shares of the industrial products company's stock after selling 13,286 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.19% of Silgan worth $10,450,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SLGN. Oddo BHF Asset Management Sas bought a new position in shares of Silgan in the third quarter worth about $2,975,000. Ritholtz Wealth Management acquired a new position in shares of Silgan during the fourth quarter worth approximately $620,000. Geode Capital Management LLC boosted its position in shares of Silgan by 11.7% in the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company's stock valued at $78,509,000 after acquiring an additional 157,160 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Silgan in the fourth quarter worth $1,142,000. Finally, Janney Montgomery Scott LLC bought a new position in Silgan during the fourth quarter worth $2,563,000. Institutional investors own 70.25% of the company's stock.

Analysts Set New Price Targets

SLGN has been the subject of a number of research reports. Loop Capital increased their price target on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Truist Financial reiterated a "buy" rating and issued a $70.00 price objective (up previously from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Royal Bank of Canada boosted their price objective on Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Raymond James raised their target price on Silgan from $62.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $64.22.

Insider Buying and Selling at Silgan

In other Silgan news, 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 transaction, the chief executive officer now owns 227,332 shares in the company, valued at approximately $12,441,880.36. This trade represents a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the completion of the sale, the executive vice president now owns 152,133 shares in the company, valued at $8,096,518.26. This represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company's stock.

Silgan Price Performance

Silgan stock traded up $0.43 during trading hours on Thursday, hitting $49.43. 121,493 shares of the stock were exchanged, compared to its average volume of 648,098. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The business's 50-day moving average is $51.07 and its two-hundred day moving average is $52.47. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. The stock has a market capitalization of $5.28 billion, a P/E ratio of 19.17, a P/E/G ratio of 1.27 and a beta of 0.81.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. Equities research analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.20 dividend. This is a boost from Silgan's previous quarterly dividend of $0.19. The ex-dividend date was Monday, March 17th. This represents a $0.80 annualized dividend and a yield of 1.62%. Silgan's dividend payout ratio (DPR) is currently 31.01%.

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.