Insider Selling: Silgan Holdings Inc. (NYSE:SLGN) VP Sells $78,464.00 in Stock

Silgan Holdings Inc. (NYSE:SLGN) VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the transaction, the vice president now directly owns 11,495 shares in the company, valued at approximately $563,714.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Silgan Trading Down 0.7 %

Shares of NYSE:SLGN opened at $48.75 on Thursday. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $52.84. The company has a quick ratio of 0.62, a current ratio of 0.53 and a debt-to-equity ratio of 1.33. The company’s fifty day simple moving average is $45.37 and its 200 day simple moving average is $45.66. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 1.72 and a beta of 0.67.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the business posted $0.83 earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, research analysts forecast that Silgan Holdings Inc. will post 3.66 EPS for the current fiscal year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $0.19 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 1.56%. Silgan’s payout ratio is currently 26.67%.

Institutional Investors Weigh In On Silgan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AdvisorShares Investments LLC increased its stake in Silgan by 7.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 127,370 shares of the industrial products company’s stock valued at $5,332,000 after buying an additional 8,749 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Silgan in the 2nd quarter valued at $70,000. Daiwa Securities Group Inc. increased its stake in Silgan by 0.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock valued at $1,696,000 after buying an additional 218 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in Silgan by 4.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 73,794 shares of the industrial products company’s stock valued at $3,124,000 after buying an additional 2,958 shares during the last quarter. Finally, Choreo LLC acquired a new stake in Silgan in the 2nd quarter valued at $498,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLGN has been the topic of several analyst reports. Truist Financial reiterated a “buy” rating and issued a $59.00 target price (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Citigroup increased their target price on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. StockNews.com upgraded shares of Silgan from a “hold” rating to a “buy” rating in a report on Saturday, August 3rd. Wells Fargo & Company increased their target price on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $46.00 to $53.00 in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.00.

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.