Guggenheim Capital LLC Sells 3,524 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Guggenheim Capital LLC decreased its holdings in Silgan Holdings Inc. (NYSE:SLGN – Get Rating) by 24.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,803 shares of the industrial products company’s stock after selling 3,524 shares during the quarter. Guggenheim Capital LLC’s holdings in Silgan were worth $454,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SLGN. Victory Capital Management Inc. boosted its position in Silgan by 25.1% during the third quarter. Victory Capital Management Inc. now owns 3,542,554 shares of the industrial products company’s stock valued at $148,929,000 after acquiring an additional 710,654 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in Silgan by 69.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,068,170 shares of the industrial products company’s stock worth $49,381,000 after buying an additional 436,243 shares during the period. Millennium Management LLC boosted its holdings in Silgan by 3,096.9% in the 2nd quarter. Millennium Management LLC now owns 140,119 shares of the industrial products company’s stock worth $5,794,000 after buying an additional 135,736 shares during the period. JPMorgan Chase & Co. boosted its holdings in Silgan by 2.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,849,746 shares of the industrial products company’s stock valued at $200,537,000 after purchasing an additional 125,121 shares during the period. Finally, State Street Corp boosted its holdings in Silgan by 5.2% in the 1st quarter. State Street Corp now owns 2,327,760 shares of the industrial products company’s stock valued at $107,612,000 after purchasing an additional 114,449 shares during the period. Institutional investors own 68.36% of the company’s stock.

Insider Buying and Selling

In related news, Director Anthony J. Allott sold 50,972 shares of the company’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $54.08, for a total transaction of $2,756,565.76. Following the completion of the transaction, the director now owns 709,501 shares in the company, valued at $38,369,814.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 24.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SLGN has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of Silgan from $49.00 to $53.00 in a research report on Wednesday, January 4th. Robert W. Baird boosted their price objective on shares of Silgan from $50.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, January 26th. Raymond James boosted their price objective on shares of Silgan from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, January 26th. JPMorgan Chase & Co. boosted their price objective on shares of Silgan from $43.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday, January 26th. Finally, Truist Financial raised shares of Silgan from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Thursday, January 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Silgan presently has a consensus rating of “Hold” and a consensus price target of $55.78.

Silgan Stock Performance

SLGN opened at $51.54 on Friday. The firm has a market cap of $5.67 billion, a P/E ratio of 16.84, a PEG ratio of 2.66 and a beta of 0.80. Silgan Holdings Inc. has a 1-year low of $38.59 and a 1-year high of $55.41. The company has a 50 day simple moving average of $52.98 and a two-hundred day simple moving average of $49.58. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.39 and a quick ratio of 0.88.

Silgan Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be given a dividend of $0.18 per share. This is a positive change from Silgan’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.40%. Silgan’s dividend payout ratio is currently 23.53%.

About Silgan

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Silgan Holdings, Inc engages in the manufacture and sale of rigid packaging for consumer goods products. It operates through the following business segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers dispensing and specialty closures for food, beverage, health care, garden, home, personal care, fragrance, and beauty products.