Silgan Holdings Inc. (NYSE:SLGN) Short Interest Down 22.4% in May

Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totalling 2,180,000 shares, a decrease of 22.4% from the April 30th total of 2,810,000 shares. Currently, 2.5% of the company's stock are short sold. Based on an average daily volume of 814,000 shares, the days-to-cover ratio is currently 2.7 days.

Analysts Set New Price Targets

Several research firms recently commented on SLGN. Raymond James raised Silgan from an "outperform" rating to a "strong-buy" rating and reduced their price target for the stock from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Citigroup upped their price objective on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Truist Financial dropped their target price on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $63.11.

Silgan Stock Down 0.6%

Shares of NYSE:SLGN traded down $0.32 during mid-day trading on Thursday, reaching $53.15. 28,541 shares of the stock were exchanged, compared to its average volume of 661,093. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The company has a market cap of $5.69 billion, a P/E ratio of 20.61, a P/E/G ratio of 1.27 and a beta of 0.74. Silgan has a one year low of $41.14 and a one year high of $58.14. The stock's 50 day simple moving average is $52.05 and its 200-day simple moving average is $52.80.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.48 billion. Silgan had a return on equity of 19.70% and a net margin of 4.72%. 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 EPS. As a group, equities research analysts predict that Silgan 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. Stockholders of record on Monday, June 2nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, June 2nd. Silgan's dividend payout ratio (DPR) is presently 29.74%.

Insider Transactions at Silgan

In related news, VP B Frederik Prinzen sold 2,378 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the completion of the sale, the vice president now owns 1,380 shares in the company, valued at $74,589. This represents a 63.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.92, for a total value of $559,200.00. Following the sale, the executive vice president now directly owns 153,378 shares of the company's stock, valued at approximately $8,576,897.76. This represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.13% of the company's stock.

Institutional Trading of Silgan

Several institutional investors and hedge funds have recently modified their holdings of SLGN. Vanguard Group Inc. grew its holdings in Silgan by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock valued at $464,886,000 after purchasing an additional 455,381 shares during the period. FMR LLC boosted its holdings in shares of Silgan by 12.2% in the fourth quarter. FMR LLC now owns 7,046,400 shares of the industrial products company's stock worth $366,765,000 after acquiring an additional 767,944 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Silgan by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 5,916,625 shares of the industrial products company's stock worth $302,458,000 after acquiring an additional 120,844 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Silgan by 8.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,312,590 shares of the industrial products company's stock worth $169,334,000 after acquiring an additional 250,577 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Silgan by 18.5% in the first quarter. Wellington Management Group LLP now owns 2,868,870 shares of the industrial products company's stock worth $146,657,000 after acquiring an additional 448,828 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.