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% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,001 shares of the industrial products company’s stock after selling 5,203 shares during the quarter. State of Wyoming’s holdings in Silgan were worth $416,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SLGN. GeoWealth Management LLC bought a new stake in Silgan during the fourth quarter worth $56,000. Bank of Jackson Hole Trust bought a new stake in Silgan during the fourth quarter worth $59,000. Smartleaf Asset Management LLC raised its position in Silgan by 1,229.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,906 shares in the last quarter. KBC Group NV raised its position in Silgan by 52.5% during the fourth quarter. KBC Group NV now owns 3,473 shares of the industrial products company’s stock worth $181,000 after acquiring an additional 1,196 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in Silgan by 153.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company’s stock worth $185,000 after acquiring an additional 2,145 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SLGN. Truist Financial dropped their price target on shares of Silgan from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird upped their price target on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Citigroup upped their price objective on shares of Silgan from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Royal Bank of Canada upped their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company upped their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Silgan has an average rating of “Buy” and an average price target of $63.11.

Silgan Trading Down 0.0%

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

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company posted $0.69 earnings per share. Silgan’s revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Dividend Announcement

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

Insiders Place Their Bets

In other news, VP B Frederik Prinzen sold 2,378 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the completion of the transaction, the vice president now owns 1,380 shares of the company’s stock, valued at approximately $74,589. This represents a 63.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the transaction, the chief executive officer now directly owns 227,332 shares of the company’s stock, valued at $12,441,880.36. This trade represents a 35.48% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

Silgan 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.