Retirement Systems of Alabama Sells 2,962 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Retirement Systems of Alabama lowered its stake in Silgan Holdings Inc. (NYSE:SLGN) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 101,371 shares of the industrial products company’s stock after selling 2,962 shares during the quarter. Retirement Systems of Alabama’s holdings in Silgan were worth $4,587,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Quent Capital LLC raised its position in shares of Silgan by 94.9% during the fourth quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 505 shares during the period. Fifth Third Bancorp grew its holdings in shares of Silgan by 92.4% during the third quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock valued at $48,000 after buying an additional 538 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Silgan during the third quarter valued at about $70,000. Blue Trust Inc. increased its position in shares of Silgan by 4,440.4% during the fourth quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 2,087 shares in the last quarter. Finally, Corton Capital Inc. acquired a new stake in shares of Silgan in the 3rd quarter worth about $256,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Insiders Place Their Bets

In related news, VP B Frederik Prinzen sold 4,684 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $43.89, for a total transaction of $205,580.76. Following the sale, the vice president now directly owns 8,613 shares in the company, valued at approximately $378,024.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.39% of the company’s stock.

Silgan Trading Up 0.8 %

Shares of SLGN stock opened at $46.65 on Tuesday. Silgan Holdings Inc. has a 12-month low of $38.11 and a 12-month high of $49.72. The company has a quick ratio of 0.29, a current ratio of 0.49 and a debt-to-equity ratio of 1.35. The company has a 50 day moving average of $46.14 and a 200-day moving average of $44.23. The firm has a market cap of $4.98 billion, a P/E ratio of 16.37, a PEG ratio of 2.53 and a beta of 0.69.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. Silgan had a return on equity of 19.26% and a net margin of 5.25%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The business’s revenue was down 7.1% on a year-over-year basis. Sell-side analysts anticipate that Silgan Holdings Inc. will post 3.66 earnings per share for the current year.

Silgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, March 13th. This is an increase from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 1.63%. Silgan’s dividend payout ratio is 26.67%.

Analysts Set New Price Targets

SLGN has been the subject of a number of recent research reports. Citigroup boosted their price objective on Silgan from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. raised their price objective on Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday, February 1st. Wells Fargo & Company dropped their price target on shares of Silgan from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Royal Bank of Canada upped their price objective on shares of Silgan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Raymond James upped their target price on Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.00.

About Silgan

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.