State of Wyoming Sells 5,203 Shares of Silgan Holdings Inc. (NYSE:SLGN)

State of Wyoming lessened its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 39.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,001 shares of the industrial products company’s stock after selling 5,203 shares during the period. State of Wyoming’s holdings in Silgan were worth $416,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SLGN. Millennium Management LLC raised its holdings in Silgan by 764.7% in the 4th quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company’s stock valued at $52,708,000 after buying an additional 895,528 shares during the last quarter. FMR LLC raised its holdings in Silgan by 12.2% in the 4th quarter. FMR LLC now owns 7,046,400 shares of the industrial products company’s stock valued at $366,765,000 after buying an additional 767,944 shares during the last quarter. Norges Bank bought a new position in Silgan in the 4th quarter valued at approximately $38,680,000. JPMorgan Chase & Co. raised its holdings in Silgan by 12.8% in the 4th quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company’s stock valued at $301,670,000 after buying an additional 656,923 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Silgan by 87.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,253,727 shares of the industrial products company’s stock valued at $65,257,000 after buying an additional 584,840 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Insider Transactions at Silgan

In related news, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction on Monday, February 24th. The shares were 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 owns 227,332 shares of the company’s stock, valued at approximately $12,441,880.36. This trade represents a 35.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total transaction of $128,530.90. Following the completion of the sale, the vice president now directly owns 1,380 shares of the company’s stock, valued at approximately $74,589. The trade was a 63.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Silgan Stock Performance

Shares of SLGN stock opened at $56.09 on Wednesday. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $51.07 and a 200-day moving average of $52.73.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. On average, equities analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, June 2nd. Silgan’s dividend payout ratio (DPR) is 29.74%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price objective for the company in a report on Thursday, May 1st. Robert W. Baird increased their target price on shares of Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Truist Financial decreased their target price on shares of Silgan from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Royal Bank of Canada increased their target price on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Loop Capital increased their target price on shares of Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Silgan presently has a consensus rating of “Buy” and an average target price of $63.11.

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.