Arizona State Retirement System Trims Position in Silgan Holdings Inc. (NYSE:SLGN)

Arizona State Retirement System lowered its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 2.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 24,588 shares of the industrial products company’s stock after selling 525 shares during the period. Arizona State Retirement System’s holdings in Silgan were worth $1,113,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Eagle Bay Advisors LLC raised its stake in Silgan by 151.1% during the second quarter. Eagle Bay Advisors LLC now owns 836 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 503 shares during the period. Quent Capital LLC raised its stake in shares of Silgan by 94.9% in the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 505 shares during the period. Fifth Third Bancorp raised its stake in shares of Silgan by 92.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 538 shares during the period. Headlands Technologies LLC purchased a new position in shares of Silgan in the 3rd quarter valued at $70,000. Finally, State of Wyoming raised its stake in shares of Silgan by 30.4% in the 2nd quarter. State of Wyoming now owns 1,635 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 381 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

SLGN has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday, February 1st. Raymond James raised their target price on shares of Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Wells Fargo & Company raised their target price on shares of Silgan from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Royal Bank of Canada raised their price target on shares of Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Truist Financial raised their price target on shares of Silgan from $52.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Silgan has an average rating of “Moderate Buy” and a consensus target price of $53.13.

Insider Activity

In other news, VP B Frederik Prinzen sold 4,684 shares of Silgan stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $43.89, for a total value of $205,580.76. Following the completion of the transaction, the vice president now directly owns 8,613 shares of the company’s stock, valued at approximately $378,024.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 13.08% of the company’s stock.

Silgan Price Performance

Shares of SLGN stock opened at $47.21 on Tuesday. The firm has a market cap of $5.04 billion, a P/E ratio of 15.84, a P/E/G ratio of 2.59 and a beta of 0.68. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.02 and a quick ratio of 0.61. Silgan Holdings Inc. has a 1-year low of $38.11 and a 1-year high of $54.92. The firm has a fifty day moving average of $45.47 and a two-hundred day moving average of $43.70.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.39 billion. Silgan had a net margin of 5.44% and a return on equity of 20.29%. As a group, research analysts anticipate that Silgan Holdings Inc. will post 3.67 earnings per share for the current fiscal year.

Silgan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 1.61%. Silgan’s payout ratio is 25.50%.

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.