Silgan Holdings Inc. (NYSE:SLGN) Position Reduced by Leeward Investments LLC MA

Leeward Investments LLC MA trimmed its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 0.7% during the fourth quarter, HoldingsChannel reports. The fund owned 273,966 shares of the industrial products company’s stock after selling 1,992 shares during the quarter. Leeward Investments LLC MA’s holdings in Silgan were worth $12,397,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quent Capital LLC boosted its stake in Silgan by 94.9% during the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 505 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Silgan by 92.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock worth $48,000 after buying an additional 538 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Silgan in the 3rd quarter worth about $70,000. Blue Trust Inc. lifted its position in shares of Silgan by 4,440.4% in the 4th quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock worth $91,000 after buying an additional 2,087 shares during the last quarter. Finally, Corton Capital Inc. bought a new position in shares of Silgan in the 3rd quarter worth about $256,000. 70.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SLGN shares. Royal Bank of Canada raised their price target on shares of Silgan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Truist Financial raised their price target on shares of Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Citigroup raised 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 price target on shares of Silgan from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Silgan from $39.00 to $46.00 and gave the stock an “underweight” rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.13.

Silgan Stock Performance

Shares of SLGN stock traded down $0.02 during trading hours on Friday, reaching $47.00. The stock had a trading volume of 485,573 shares, compared to its average volume of 568,606. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.02 and a quick ratio of 0.61. Silgan Holdings Inc. has a twelve month low of $38.11 and a twelve month high of $50.18. The firm has a 50-day simple moving average of $45.94 and a 200-day simple moving average of $43.98. The firm has a market capitalization of $5.02 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, January 31st. The industrial products company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Silgan had a net margin of 5.44% and a return on equity of 20.29%. As a group, equities analysts forecast that Silgan Holdings Inc. will post 3.67 earnings per share for the current year.

Silgan Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.19 per share. This is a boost from Silgan’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.76 annualized dividend and a yield of 1.62%. Silgan’s dividend payout ratio (DPR) is presently 25.50%.

Insider Buying and Selling at Silgan

In other news, VP B Frederik Prinzen sold 4,684 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $43.89, for a total transaction of $205,580.76. Following the completion of the transaction, the vice president now owns 8,613 shares in the company, valued at approximately $378,024.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 13.08% of the stock is owned by corporate insiders.

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.