Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,851 shares of the industrial products company’s stock after selling 4,127 shares during the quarter. Corebridge Financial Inc. owned 0.09% of Silgan worth $4,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas acquired a new stake in shares of Silgan in the 3rd quarter worth approximately $2,975,000. BNP Paribas Financial Markets boosted its position in Silgan by 144.1% during the third quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock worth $2,884,000 after purchasing an additional 32,432 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in Silgan in the fourth quarter valued at $620,000. Geode Capital Management LLC increased its position in shares of Silgan by 11.7% in the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock valued at $78,509,000 after buying an additional 157,160 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Silgan during the 4th quarter worth $1,142,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Robert B. Lewis sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 152,133 shares in the company, valued at $8,096,518.26. This trade represents a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $12,441,880.36. The trade was 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 Price Performance

Shares of NYSE:SLGN opened at $50.69 on Friday. The business has a fifty day simple moving average of $52.65 and a 200-day simple moving average of $52.75. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The company has a market cap of $5.41 billion, a P/E ratio of 19.65, a P/E/G ratio of 1.27 and a beta of 0.71.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 EPS 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%. Equities research analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, March 17th. This is a boost from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.58%. Silgan’s payout ratio is currently 31.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Raymond James raised their target price on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Bank of America raised their price objective on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Truist Financial restated a “buy” rating and set a $70.00 price objective (up from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Wells Fargo & Company increased their target price on Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. boosted their price target on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.22.

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.