Silgan Holdings Inc. (NYSE:SLGN) Short Interest Update

Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) was the recipient of a large decrease in short interest during the month of 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 shares of the company are sold short. Based on an average daily volume of 814,000 shares, the days-to-cover ratio is presently 2.7 days.

Insider Activity at Silgan

In other news, VP B Frederik Prinzen sold 2,378 shares of Silgan 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 sale, the vice president now owns 1,380 shares of the company's stock, valued at approximately $74,589. This trade represents a 63.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert B. Lewis sold 10,000 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the sale, the executive vice president now owns 153,378 shares in the company, 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 Investors Weigh In On Silgan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group grew its stake in shares of Silgan by 4,394.1% during the first quarter. Brooklyn Investment Group now owns 764 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 747 shares during the last quarter. CX Institutional bought a new position in Silgan in the 1st quarter valued at $42,000. UMB Bank n.a. increased its stake in shares of Silgan by 254.9% in the 1st quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock valued at $46,000 after buying an additional 645 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Silgan during the first quarter worth $51,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Silgan during the first quarter valued at $54,000. Institutional investors and hedge funds own 70.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Raymond James raised 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. Truist Financial lowered their target price on shares of Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Citigroup raised their price target on shares of Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Silgan currently has a consensus rating of "Buy" and a consensus price target of $63.11.

Silgan Price Performance

Shares of NYSE SLGN traded up $0.67 during mid-day trading on Friday, hitting $54.22. 380,953 shares of the stock were exchanged, compared to its average volume of 662,924. Silgan has a twelve month low of $41.14 and a twelve month high of $58.14. The stock's fifty day simple moving average is $52.10 and its two-hundred day simple moving average is $52.80. 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 company has a market cap of $5.80 billion, a P/E ratio of 21.01, a PEG ratio of 1.27 and a beta of 0.76.

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, topping analysts' consensus estimates of $0.78 by $0.04. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company earned $0.69 EPS. Silgan's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, analysts forecast that Silgan will post 4.11 EPS for the current fiscal year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Monday, June 2nd. Silgan's dividend payout ratio is currently 29.74%.

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.