Quarry LP Has $93,000 Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Quarry LP lessened its stake in Silgan Holdings Inc. (NYSE:SLGN) by 13.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,779 shares of the industrial products company’s stock after selling 274 shares during the quarter. Quarry LP’s holdings in Silgan were worth $93,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Arizona State Retirement System raised its holdings 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. Treasurer of the State of North Carolina boosted its holdings in Silgan by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 36,440 shares of the industrial products company’s stock valued at $1,897,000 after purchasing an additional 230 shares during the period. Synovus Financial Corp grew its position in Silgan by 1.6% during the fourth quarter. Synovus Financial Corp now owns 22,721 shares of the industrial products company’s stock worth $1,183,000 after buying an additional 368 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Silgan by 1.8% during the 4th quarter. LPL Financial LLC now owns 21,793 shares of the industrial products company’s stock worth $1,134,000 after purchasing an additional 393 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in Silgan by 2.4% in the 4th 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 during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Silgan

In other news, CEO Adam J. Greenlee sold 125,000 shares of the firm’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 transaction, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 152,133 shares of the company’s stock, valued at $8,096,518.26. This trade represents 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 owned by insiders.

Silgan Stock Performance

Shares of SLGN stock opened at $52.44 on Wednesday. The company has a market capitalization of $5.61 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. The company’s 50 day moving average price is $50.53 and its two-hundred day moving average price is $52.44.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, beating 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%. On average, 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 declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.53%. This is a positive change from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date was Monday, March 17th. Silgan’s payout ratio is 31.01%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SLGN. Loop Capital increased their target price on Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Wells Fargo & Company raised their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Robert W. Baird boosted their target price on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Truist Financial lowered their target price on Silgan from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Raymond James upgraded Silgan from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.78.

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.