Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in Silgan Holdings Inc. (NYSE:SLGN) by 47.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,191 shares of the industrial products company’s stock after selling 5,483 shares during the period. Federated Hermes Inc.’s holdings in Silgan were worth $280,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of Silgan by 20.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,053,086 shares of the industrial products company’s stock valued at $260,949,000 after purchasing an additional 1,047,558 shares in the last quarter. Wellington Management Group LLP lifted its position in Silgan by 43.0% during the third quarter. Wellington Management Group LLP now owns 4,220,003 shares of the industrial products company’s stock valued at $181,924,000 after buying an additional 1,269,349 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Silgan by 3.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,323,963 shares of the industrial products company’s stock worth $105,159,000 after buying an additional 66,837 shares during the period. Boston Trust Walden Corp increased its position in shares of Silgan by 0.7% in the fourth quarter. Boston Trust Walden Corp now owns 1,566,448 shares of the industrial products company’s stock worth $70,882,000 after acquiring an additional 10,532 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of Silgan by 9.9% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,269,176 shares of the industrial products company’s stock valued at $54,714,000 after acquiring an additional 114,849 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Stock Up 2.0 %

SLGN stock opened at $46.28 on Monday. The company has a market capitalization of $4.94 billion, a P/E ratio of 16.24, a PEG ratio of 2.52 and a beta of 0.69. The firm has a 50 day simple moving average of $46.10 and a 200-day simple moving average of $44.17. The company has a current ratio of 0.49, a quick ratio of 0.61 and a debt-to-equity ratio of 1.35. Silgan Holdings Inc. has a twelve month low of $38.11 and a twelve month high of $49.72.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the business earned $0.78 EPS. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, equities research analysts predict that Silgan Holdings Inc. will post 3.66 earnings per share for the current fiscal year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Silgan’s previous quarterly dividend of $0.18. Silgan’s dividend payout ratio (DPR) is currently 26.67%.

Insider Transactions at Silgan

In related news, VP B Frederik Prinzen sold 4,684 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total transaction of $205,580.76. Following the transaction, the vice president now directly owns 8,613 shares in the company, valued at $378,024.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.08% of the company’s stock.

Analyst Upgrades and Downgrades

SLGN has been the subject of a number of research reports. Citigroup upped their price target on shares of Silgan from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Raymond James raised their target price on Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. upped their price target on Silgan from $39.00 to $46.00 and gave the stock an “underweight” rating in a report on Thursday, February 1st. Royal Bank of Canada lifted their price objective on shares of Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Wells Fargo & Company decreased their target price on shares of Silgan from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

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.