Ameriprise Financial Inc. Sells 1,241 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Ameriprise Financial Inc. lessened its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 179,938 shares of the industrial products company’s stock after selling 1,241 shares during the period. Ameriprise Financial Inc. owned about 0.17% of Silgan worth $9,366,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Silgan

In other news, VP B Frederik Prinzen sold 2,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total value of $128,530.90. Following the transaction, the vice president now owns 1,380 shares in the company, valued at $74,589. The trade was a 63.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the completion of the transaction, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. The trade was a 35.48% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on SLGN shares. Loop Capital upped their target price on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Wells Fargo & Company upped their price target on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Citigroup lifted their price objective on Silgan from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. raised Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price objective for the company in a research report on Thursday, May 1st. Finally, Raymond James raised Silgan from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the stock from $65.00 to $60.00 in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Silgan has an average rating of “Buy” and an average target price of $63.11.

Silgan Stock Performance

Shares of Silgan stock opened at $56.09 on Wednesday. Silgan Holdings Inc. has a one year low of $41.14 and a one year high of $58.14. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.27 and a beta of 0.74. The business has a 50-day simple moving average of $51.07 and a 200 day simple moving average of $52.73. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28.

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

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.20 per share. 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 dividend payout ratio (DPR) is currently 29.74%.

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.