Adam J. Greenlee Sells 125,000 Shares of Silgan Holdings Inc. (NYSE:SLGN) Stock

Silgan Holdings Inc. (NYSE:SLGN) CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction on Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the sale, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Silgan Stock Performance

Shares of SLGN stock opened at $53.67 on Friday. The firm’s 50 day moving average is $53.09 and its 200 day moving average is $52.69. The stock has a market capitalization of $5.73 billion, a P/E ratio of 20.80, a PEG ratio of 1.27 and a beta of 0.71. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24.

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

Silgan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.80 annualized dividend and a yield of 1.49%. This is a boost from Silgan’s previous quarterly dividend of $0.19. Silgan’s payout ratio is currently 29.46%.

Analyst Ratings Changes

SLGN has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Truist Financial restated a “buy” rating and set a $70.00 price objective (up previously from $69.00) on shares of Silgan in a report on Thursday, January 30th. Loop Capital boosted their target price on shares of Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada raised their price target on shares of Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Bank of America upped their price objective on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.22.

Institutional Trading of Silgan

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its position in shares of Silgan by 87.7% during the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock valued at $329,619,000 after purchasing an additional 2,932,680 shares in the last quarter. Millennium Management LLC boosted its stake in Silgan by 764.7% during the fourth quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company’s stock valued at $52,708,000 after buying an additional 895,528 shares during the period. Norges Bank purchased a new position in Silgan during the fourth quarter worth about $38,680,000. JPMorgan Chase & Co. increased its stake in Silgan by 12.8% in the 4th quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company’s stock worth $301,670,000 after acquiring an additional 656,923 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Silgan by 87.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,253,727 shares of the industrial products company’s stock valued at $65,257,000 after acquiring an additional 584,840 shares in the last quarter. 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.