Silgan Holdings Inc. (NYSE:SLGN) Stake Lowered by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp cut its stake in Silgan Holdings Inc. (NYSE:SLGN) by 51.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,437 shares of the industrial products company’s stock after selling 3,707 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Silgan were worth $156,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quent Capital LLC boosted its position in Silgan by 94.9% in the fourth quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock valued at $47,000 after buying an additional 505 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Silgan by 92.4% in the third quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 538 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Silgan in the third quarter worth about $70,000. Blue Trust Inc. raised its holdings in Silgan by 4,440.4% during the 4th quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock worth $91,000 after purchasing 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 valued at about $256,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Silgan

In other news, VP B Frederik Prinzen sold 4,684 shares of the company’s stock in a transaction on 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 directly owns 8,613 shares in the company, valued at $378,024.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.08% of the stock is currently owned by insiders.

Silgan Price Performance

SLGN stock opened at $47.00 on Friday. The company’s 50-day moving average price is $45.94 and its two-hundred day moving average price is $43.98. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $50.18. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 1.35. The firm has a market cap of $5.02 billion, a P/E ratio of 15.77, a P/E/G ratio of 2.56 and a beta of 0.68.

Silgan (NYSE:SLGN) last announced its quarterly earnings data 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 business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.39 billion. Silgan had a net margin of 5.44% and a return on equity of 20.29%. On average, analysts anticipate that Silgan Holdings Inc. will post 3.67 earnings per share for the current fiscal year.

Silgan Increases Dividend

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

Wall Street Analysts Forecast Growth

SLGN has been the subject of a number of recent research reports. Truist Financial boosted their price target on shares of Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Citigroup increased their price target on Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Wells Fargo & Company upped their price objective on shares of Silgan from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Royal Bank of Canada raised their target price on shares of Silgan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Raymond James increased their target price 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.13.

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.