Silgan (NYSE:SLGN) Sees Unusually-High Trading Volume

Silgan Holdings Inc. (NYSE:SLGN) shares saw unusually-strong trading volume on Thursday . Approximately 658,076 shares were traded during trading, an increase of 16% from the previous session’s volume of 568,534 shares.The stock last traded at $43.03 and had previously closed at $43.51.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company cut their price objective on Silgan from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.00.

Silgan Price Performance

The company has a market capitalization of $4.58 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.47 and a beta of 0.69. The company has a fifty day moving average price of $46.13 and a 200 day moving average price of $45.39. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.04 and a quick ratio of 0.62.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. Silgan had a return on equity of 19.26% and a net margin of 5.25%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the company posted $0.78 EPS. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, sell-side analysts forecast that Silgan Holdings Inc. will post 3.66 EPS for the current fiscal year.

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Monday, June 3rd. Silgan’s dividend payout ratio (DPR) is 26.67%.

Insider Buying and Selling

In other Silgan news, EVP Robert B. Lewis sold 30,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $47.08, for a total transaction of $1,412,400.00. Following the completion of the transaction, the executive vice president now directly owns 172,133 shares of the company’s stock, valued at approximately $8,104,021.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Silgan news, EVP Robert B. Lewis sold 30,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $47.08, for a total transaction of $1,412,400.00. Following the completion of the transaction, the executive vice president now directly owns 172,133 shares of the company’s stock, valued at approximately $8,104,021.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP B Frederik Prinzen sold 4,093 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.84, for a total value of $195,809.12. Following the transaction, the vice president now directly owns 4,520 shares of the company’s stock, valued at $216,236.80. The disclosure for this sale can be found here. Insiders sold 59,651 shares of company stock valued at $2,804,226 in the last three months. 1.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Silgan

A number of institutional investors and hedge funds have recently modified their holdings of the stock. TFO Wealth Partners LLC lifted its holdings in shares of Silgan by 10,540.0% in the fourth quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock valued at $226,000 after purchasing an additional 527 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Silgan in the fourth quarter valued at $30,000. Quent Capital LLC lifted its holdings in shares of 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 purchasing an additional 505 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Silgan by 69.7% in the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 462 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Silgan by 4,440.4% in the fourth quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 2,087 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

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.