Russell Investments Group Ltd. Trims Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Russell Investments Group Ltd. lessened its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 200,770 shares of the industrial products company’s stock after selling 13,286 shares during the quarter. Russell Investments Group Ltd. owned 0.19% of Silgan worth $10,450,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Jackson Hole Trust bought a new stake in Silgan in the fourth quarter valued at about $59,000. Smartleaf Asset Management LLC increased its holdings in shares of Silgan by 1,229.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 1,906 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Silgan by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 863 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Silgan during the third quarter worth $154,000. Finally, KBC Group NV boosted its holdings in Silgan by 52.5% in the fourth quarter. KBC Group NV now owns 3,473 shares of the industrial products company’s stock worth $181,000 after purchasing an additional 1,196 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Robert B. Lewis sold 20,000 shares of the firm’s 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 directly owns 152,133 shares in the company, valued at approximately $8,096,518.26. This trade represents a 11.62 % 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. Also, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 227,332 shares of the company’s stock, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SLGN has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Truist Financial reaffirmed a “buy” rating and set a $70.00 target price (up from $69.00) on shares of Silgan in a report on Thursday, January 30th. Loop Capital raised their price target on Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Raymond James upped their price objective on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Robert W. Baird raised their target price on Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $64.22.

Silgan Price Performance

Shares of NYSE SLGN opened at $48.91 on Friday. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The stock has a market cap of $5.22 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.27 and a beta of 0.81. The firm’s 50-day simple moving average is $51.38 and its 200 day simple moving average is $52.53. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping 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 analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Silgan’s previous quarterly dividend of $0.19. Silgan’s dividend payout ratio is 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.