Captrust Financial Advisors Sells 444 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Captrust Financial Advisors reduced its stake in Silgan Holdings Inc. (NYSE:SLGN) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,961 shares of the industrial products company’s stock after selling 444 shares during the quarter. Captrust Financial Advisors’ holdings in Silgan were worth $414,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SLGN. Vanguard Group Inc. increased its stake in shares of Silgan by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company’s stock worth $464,886,000 after purchasing an additional 455,381 shares during the period. FMR LLC increased its position in Silgan by 12.2% during the 4th quarter. FMR LLC now owns 7,046,400 shares of the industrial products company’s stock worth $366,765,000 after buying an additional 767,944 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Silgan by 12.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company’s stock worth $301,670,000 after buying an additional 656,923 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Silgan by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,062,013 shares of the industrial products company’s stock valued at $159,377,000 after acquiring an additional 11,836 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Silgan by 0.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,140,028 shares of the industrial products company’s stock valued at $111,388,000 after acquiring an additional 9,532 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLGN has been the subject of several analyst reports. Truist Financial dropped their price objective on shares of Silgan from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Citigroup lifted their price target on shares of Silgan from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Loop Capital boosted their price target on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada raised their price objective on Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Raymond James upgraded Silgan from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $65.00 to $60.00 in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Silgan currently has a consensus rating of “Buy” and a consensus target price of $63.11.

Silgan Price Performance

Silgan stock opened at $56.08 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The stock has a market capitalization of $6.00 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74. The stock has a fifty day moving average of $50.92 and a 200-day moving average of $52.71.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 earnings per share. On average, sell-side analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. Silgan’s payout ratio is presently 29.74%.

Insider Buying and Selling at Silgan

In related news, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction on Monday, February 24th. The shares were 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 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP B Frederik Prinzen sold 2,378 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the completion of the sale, the vice president now owns 1,380 shares of the company’s stock, valued at $74,589. The trade was a 63.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

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.