Silgan Holdings Inc. (NYSE:SLGN) Position Decreased by AlphaQuest LLC

AlphaQuest LLC decreased its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 91.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,954 shares of the industrial products company’s stock after selling 30,317 shares during the period. AlphaQuest LLC’s holdings in Silgan were worth $154,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Arizona State Retirement System lifted its stake in Silgan by 0.8% during the fourth quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company’s stock valued at $1,290,000 after buying an additional 195 shares in the last quarter. M&T Bank Corp lifted its stake in Silgan by 2.4% during the fourth quarter. M&T Bank Corp now owns 16,970 shares of the industrial products company’s stock valued at $883,000 after buying an additional 404 shares in the last quarter. Keybank National Association OH lifted its stake in Silgan by 3.4% during the fourth quarter. Keybank National Association OH now owns 12,678 shares of the industrial products company’s stock valued at $660,000 after buying an additional 411 shares in the last quarter. Atria Investments Inc lifted its stake in Silgan by 9.2% during the fourth quarter. Atria Investments Inc now owns 5,067 shares of the industrial products company’s stock valued at $264,000 after buying an additional 427 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in Silgan by 5.7% during the third quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company’s stock valued at $441,000 after buying an additional 456 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Insider Activity

In other news, CEO Adam J. Greenlee sold 125,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 227,332 shares of the company’s stock, valued at $12,441,880.36. This represents a 35.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the sale, the executive vice president now directly owns 152,133 shares of the company’s stock, valued at approximately $8,096,518.26. The trade was a 11.62 % 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.

Silgan Stock Up 0.4 %

Shares of NYSE SLGN opened at $49.83 on Tuesday. The firm’s 50-day simple moving average is $52.89 and its 200 day simple moving average is $52.80. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. 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 Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14.

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 return on equity of 19.70% and a net margin of 4.72%. On average, research analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 17th. This is a boost from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.61%. Silgan’s dividend payout ratio is 31.01%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Truist Financial reissued a “buy” rating and issued a $70.00 price target (up from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Bank of America increased their price target on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their price target on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Raymond James increased their price target on shares of Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Silgan 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.