Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 586,836 shares of the industrial products company’s stock after selling 9,240 shares during the quarter. Alliancebernstein L.P. owned 0.55% of Silgan worth $30,545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SLGN. Oddo BHF Asset Management Sas acquired a new stake in shares of Silgan in the 3rd quarter worth approximately $2,975,000. Ritholtz Wealth Management purchased a new stake in Silgan during the fourth quarter worth $620,000. Geode Capital Management LLC grew its holdings in Silgan by 11.7% in the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock valued at $78,509,000 after purchasing an additional 157,160 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Silgan in the fourth quarter valued at $1,142,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Silgan during the 4th quarter worth $2,563,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Silgan

In other news, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total value of $1,064,400.00. Following the completion of the sale, the executive vice president now owns 152,133 shares of the company’s stock, valued at $8,096,518.26. This represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the transaction, the chief executive officer now directly owns 227,332 shares in the company, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Silgan Stock Performance

Silgan stock opened at $47.88 on Monday. The stock has a fifty day moving average price of $52.42 and a 200 day moving average price of $52.75. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The firm has a market capitalization of $5.11 billion, a P/E ratio of 18.56, a PEG ratio of 1.27 and a beta of 0.81.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. Equities research analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share 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 paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.67%. Silgan’s payout ratio is currently 31.01%.

Analyst Ratings Changes

SLGN has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Robert W. Baird increased their price target on shares of Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada lifted their price objective on Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Bank of America boosted their price target on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.22.

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.