Robert B. Lewis Sells 20,000 Shares of Silgan Holdings Inc. (NYSE:SLGN) Stock

Silgan Holdings Inc. (NYSE:SLGN) EVP Robert B. Lewis sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the completion of the sale, the executive vice president now directly owns 152,133 shares in the company, valued at approximately $8,096,518.26. This represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Silgan Price Performance

Shares of SLGN opened at $53.71 on Friday. The firm has a market cap of $5.74 billion, a PE ratio of 20.82, a P/E/G ratio of 1.24 and a beta of 0.71. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. The firm has a fifty day simple moving average of $53.02 and a two-hundred day simple moving average of $52.42. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. On average, equities analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SLGN shares. Truist Financial reissued a “buy” rating and issued a $70.00 price target (up from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Bank of America boosted their price target on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Loop Capital upped their price objective on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their price objective on Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Raymond James upped their price objective on Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Silgan presently has an average rating of “Moderate Buy” and an average price target of $64.22.

Institutional Investors Weigh In On Silgan

A number of hedge funds have recently added to or reduced their stakes in SLGN. Vanguard Group Inc. increased its stake in shares of Silgan by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company’s stock worth $464,886,000 after purchasing an additional 455,381 shares in the last quarter. FMR LLC increased its position in Silgan by 12.2% in the fourth quarter. FMR LLC now owns 7,046,400 shares of the industrial products company’s stock worth $366,765,000 after buying an additional 767,944 shares in the last quarter. JPMorgan Chase & Co. increased its position in Silgan by 12.8% in the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company’s stock worth $301,670,000 after buying an additional 656,923 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Silgan by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,062,013 shares of the industrial products company’s stock valued at $159,377,000 after buying an additional 11,836 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Silgan by 1.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock valued at $137,047,000 after buying an additional 29,565 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

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.