Insider Selling: Silgan Holdings Inc. (NYSE:SLGN) CEO Sells $6,841,250.00 in Stock

Silgan Holdings Inc. (NYSE:SLGN) CEO Adam J. Greenlee sold 125,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was 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 directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Silgan Stock Performance

Shares of SLGN opened at $54.28 on Friday. 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 company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.27 and a beta of 0.71. The stock has a 50 day moving average of $53.13 and a 200 day moving average of $52.73. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. As a group, sell-side analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.47%. This is an increase from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 17th. Silgan’s dividend payout ratio (DPR) is presently 29.46%.

Institutional Trading of Silgan

Institutional investors and hedge funds have recently modified their holdings of the business. Nicola Wealth Management LTD. increased its position in shares of Silgan by 24.4% during the third quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock valued at $5,087,000 after acquiring an additional 19,000 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in Silgan during the third quarter valued at $2,975,000. BNP Paribas Financial Markets grew its holdings in Silgan by 144.1% during the third quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock valued at $2,884,000 after purchasing an additional 32,432 shares during the period. Versor Investments LP grew its holdings in Silgan by 112.7% during the third quarter. Versor Investments LP now owns 10,208 shares of the industrial products company’s stock valued at $536,000 after purchasing an additional 5,408 shares during the period. Finally, Ritholtz Wealth Management bought a new position in Silgan during the fourth quarter valued at $620,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Truist Financial reaffirmed a “buy” rating and set a $70.00 price target (up from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Royal Bank of Canada increased their price objective on Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Loop Capital increased their price objective on Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Robert W. Baird increased their price objective on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.22.

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.