Treasurer of the State of North Carolina Raises Stake in Silgan Holdings Inc. (NYSE:SLGN)

Treasurer of the State of North Carolina raised its stake in shares of Silgan Holdings Inc. (NYSE:SLGNFree Report) by 1.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,043 shares of the industrial products company’s stock after buying an additional 360 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Silgan were worth $1,676,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SLGN. Allspring Global Investments Holdings LLC boosted its stake in Silgan by 3.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,323,963 shares of the industrial products company’s stock valued at $105,159,000 after buying an additional 66,837 shares during the period. Barclays PLC boosted its position in shares of Silgan by 203.9% during the 3rd quarter. Barclays PLC now owns 118,564 shares of the industrial products company’s stock valued at $5,109,000 after acquiring an additional 79,551 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Silgan by 33.0% during the fourth quarter. New York State Common Retirement Fund now owns 210,066 shares of the industrial products company’s stock worth $9,505,000 after purchasing an additional 52,146 shares in the last quarter. Quent Capital LLC increased its position in shares of Silgan by 94.9% in 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 last quarter. Finally, California Public Employees Retirement System raised its stake in Silgan by 4.1% in the fourth quarter. California Public Employees Retirement System now owns 367,118 shares of the industrial products company’s stock valued at $16,612,000 after purchasing an additional 14,575 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Silgan Price Performance

SLGN stock opened at $45.88 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.62 and a current ratio of 1.04. The firm has a market cap of $4.90 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.54 and a beta of 0.69. The firm’s fifty day moving average is $47.13 and its 200 day moving average is $45.13. Silgan Holdings Inc. has a 52 week low of $38.11 and a 52 week high of $49.72.

Silgan (NYSE:SLGNGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.37 billion. Silgan had a return on equity of 19.26% and a net margin of 5.25%. The company’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 earnings per share. Research analysts predict that Silgan Holdings Inc. will post 3.66 earnings per share for the current year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Monday, June 3rd. Silgan’s dividend payout ratio is 26.67%.

Insider Transactions at Silgan

In other Silgan news, SVP Jay A. Martin sold 21,330 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $46.73, for a total transaction of $996,750.90. Following the completion of the sale, the senior vice president now owns 165,989 shares of the company’s stock, valued at approximately $7,756,665.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Silgan news, VP B Frederik Prinzen sold 4,093 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.84, for a total transaction of $195,809.12. Following the transaction, the vice president now directly owns 4,520 shares of the company’s stock, valued at approximately $216,236.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jay A. Martin sold 21,330 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $46.73, for a total transaction of $996,750.90. Following the completion of the sale, the senior vice president now directly owns 165,989 shares of the company’s stock, valued at $7,756,665.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,651 shares of company stock worth $2,804,226. Insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lowered their price objective 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Check Out Our Latest Report on SLGN

About Silgan

(Free Report)

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.

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Institutional Ownership by Quarter for Silgan (NYSE:SLGN)

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