B Frederik Prinzen Sells 2,378 Shares of Silgan Holdings Inc. (NYSE:SLGN) Stock

Silgan Holdings Inc. (NYSE:SLGN) VP B Frederik Prinzen sold 2,378 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the transaction, the vice president now directly owns 1,380 shares of the company’s stock, valued at $74,589. The trade was a 63.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Silgan Trading Down 0.3 %

SLGN opened at $53.64 on Friday. The business’s 50 day moving average price is $50.50 and its 200 day moving average price is $52.54. 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 stock has a market capitalization of $5.74 billion, a PE ratio of 20.79, a P/E/G ratio of 1.27 and a beta of 0.74. Silgan Holdings Inc. has a one year low of $41.14 and a one year high of $58.14.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 EPS. As a group, equities research analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.49%. Silgan’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SLGN shares. Royal Bank of Canada increased their price objective on Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. upgraded shares of Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price target on the stock in a research report on Thursday, May 1st. Robert W. Baird raised their target price on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Truist Financial lowered their target price on Silgan from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Loop Capital lifted 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. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Silgan has an average rating of “Buy” and an average target price of $63.11.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SLGN. CX Institutional purchased a new stake in shares of Silgan in the 1st quarter valued at $42,000. UMB Bank n.a. lifted its position in shares of Silgan by 254.9% during the first quarter. UMB Bank n.a. now owns 898 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 645 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Silgan in the first quarter valued at approximately $51,000. GeoWealth Management LLC acquired a new position in shares of Silgan in the fourth quarter valued at approximately $56,000. Finally, Bank of Jackson Hole Trust purchased a new stake in Silgan during the 4th quarter worth approximately $59,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

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.