Insider Selling: Silgan Holdings Inc. (NYSE:SLGN) CEO Sells 125,000 Shares of Stock

Silgan Holdings Inc. (NYSE:SLGN) CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction that occurred 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 directly owns 227,332 shares of the company’s stock, valued at $12,441,880.36. The trade was a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Silgan Price Performance

Silgan stock traded down $0.47 during mid-day trading on Wednesday, reaching $54.65. The company had a trading volume of 719,619 shares, compared to its average volume of 672,671. The stock’s 50-day simple moving average is $53.00 and its 200-day simple moving average is $52.67. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. The company has a market capitalization of $5.84 billion, a P/E ratio of 21.18, a P/E/G ratio of 1.27 and a beta of 0.71.

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

Silgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.20 dividend. The ex-dividend date is Monday, March 17th. This is a positive change from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.46%. Silgan’s payout ratio is currently 29.46%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Loop Capital upped their price target on Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Bank of America upped their price objective on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted their target price on shares of Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Robert W. Baird increased their price target on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $70.00 price objective (up previously from $69.00) on shares of Silgan in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $64.22.

Institutional Investors Weigh In On Silgan

Large investors have recently added to or reduced their stakes in the business. Integrated Advisors Network LLC purchased a new stake in shares of Silgan in the fourth quarter valued at about $545,000. Mackenzie Financial Corp acquired a new position in shares of Silgan during the 4th quarter worth approximately $540,000. Alpine Global Management LLC acquired a new position in shares of Silgan during the 4th quarter worth approximately $800,000. PharVision Advisers LLC purchased a new stake in Silgan in the 4th quarter valued at approximately $392,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Silgan by 10.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 199,202 shares of the industrial products company’s stock valued at $10,368,000 after buying an additional 18,670 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

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.