Insider Selling: Silgan Holdings Inc. (NYSE:SLGN) VP Sells 1,600 Shares of Stock

Silgan Holdings Inc. (NYSE:SLGN) VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Silgan Stock Performance

SLGN stock traded down $2.86 during mid-day trading on Monday, hitting $48.40. The company had a trading volume of 1,113,972 shares, compared to its average volume of 589,956. The stock’s fifty day moving average price is $45.24 and its two-hundred day moving average price is $45.56. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $52.84. The firm has a market cap of $5.17 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.77 and a beta of 0.67. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.62 and a current ratio of 0.53.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 EPS. On average, analysts forecast that Silgan Holdings Inc. will post 3.66 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.19 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.76 annualized dividend and a yield of 1.57%. Silgan’s payout ratio is 26.67%.

Wall Street Analysts Forecast Growth

SLGN has been the subject of several research analyst reports. StockNews.com upgraded Silgan from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank of Canada boosted their target price on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday. Truist Financial reissued a “buy” rating and set a $59.00 price objective (up previously from $56.00) on shares of Silgan in a research note on Thursday. Wells Fargo & Company upped their target price on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $46.00 to $53.00 in a research report on Thursday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Silgan currently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Institutional Investors Weigh In On Silgan

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. raised its holdings in shares of Silgan by 256.6% during the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 426 shares during the last quarter. Principal Securities Inc. bought a new position in Silgan in the fourth quarter worth approximately $30,000. Versant Capital Management Inc increased its stake in shares of Silgan by 2,838.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 1,107 shares in the last quarter. GAMMA Investing LLC grew its holdings in Silgan by 109.9% during the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 613 shares during the period. Finally, Covestor Ltd grew its stake in shares of Silgan by 69.7% during the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 462 shares during the period. Institutional investors own 70.25% of the company’s stock.

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.