Silgan Holdings Inc. (NYSE:SLGN) CEO Sells $6,841,250.00 in Stock

Silgan Holdings Inc. (NYSE:SLGN) CEO Adam J. Greenlee sold 125,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the sale, the chief executive officer now directly owns 227,332 shares in the company, valued at approximately $12,441,880.36. The trade was a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Silgan Stock Down 0.9 %

Silgan stock traded down $0.47 during mid-day trading on Wednesday, hitting $54.65. The company had a trading volume of 719,619 shares, compared to its average volume of 672,671. 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 1 year low of $41.14 and a 1 year high of $58.14. The business has a fifty day moving average of $53.00 and a 200 day moving average of $52.67. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.27 and a beta of 0.71.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. On average, sell-side analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.20 dividend. This is an increase from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, March 17th. Silgan’s payout ratio is presently 29.46%.

Wall Street Analyst Weigh In

SLGN has been the subject of several research reports. Wells Fargo & Company boosted their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Royal Bank of Canada increased their price target on Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Loop Capital boosted their price objective on Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Truist Financial restated a “buy” rating and set a $70.00 target price (up from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Silgan currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.22.

Institutional Trading of Silgan

Large investors have recently made changes to their positions in the company. Raymond James & Associates lifted its stake in Silgan by 26.6% in the third quarter. Raymond James & Associates now owns 45,134 shares of the industrial products company’s stock valued at $2,370,000 after buying an additional 9,470 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Silgan by 7.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company’s stock valued at $290,000 after acquiring an additional 361 shares during the period. Bernzott Capital Advisors raised its position in Silgan by 0.5% in the 3rd quarter. Bernzott Capital Advisors now owns 155,227 shares of the industrial products company’s stock valued at $8,149,000 after purchasing an additional 775 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Silgan by 7.6% during the 3rd quarter. New York State Teachers Retirement System now owns 106,539 shares of the industrial products company’s stock worth $5,593,000 after purchasing an additional 7,480 shares during the period. Finally, QRG Capital Management Inc. grew its position in Silgan by 17.1% during the 3rd quarter. QRG Capital Management Inc. now owns 26,273 shares of the industrial products company’s stock worth $1,379,000 after purchasing an additional 3,832 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

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.