Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its stake in Silgan Holdings Inc. (NYSE:SLGN) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,719 shares of the industrial products company’s stock after selling 800 shares during the period. Yousif Capital Management LLC’s holdings in Silgan were worth $1,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. UMB Bank n.a. boosted its position in Silgan by 254.9% during the 1st quarter. UMB Bank n.a. now owns 898 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 645 shares during the period. GeoWealth Management LLC acquired a new position in shares of Silgan during the fourth quarter valued at $56,000. Bank of Jackson Hole Trust acquired a new position in shares of Silgan during the fourth quarter valued at $59,000. Smartleaf Asset Management LLC boosted its holdings in shares of Silgan by 1,229.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 1,906 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Silgan by 153.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 2,145 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Silgan

In other news, VP B Frederik Prinzen sold 2,378 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total transaction of $128,530.90. Following the completion of the sale, the vice president now owns 1,380 shares in the company, valued at approximately $74,589. This represents a 63.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the sale, the executive vice president now owns 153,378 shares of the company’s stock, valued at $8,576,897.76. This trade represents a 6.12% decrease in their position. The disclosure for this sale can be found here. 1.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Raymond James Financial raised shares of Silgan from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Truist Financial reduced their price objective on Silgan from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Citigroup boosted 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. Finally, JPMorgan Chase & Co. upgraded 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. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $63.11.

Silgan Trading Down 1.6%

Shares of NYSE:SLGN opened at $53.71 on Wednesday. The firm has a market cap of $5.75 billion, a P/E ratio of 19.97, a P/E/G ratio of 1.22 and a beta of 0.76. The company has a current ratio of 1.14, a quick ratio of 0.67 and a debt-to-equity ratio of 1.67. Silgan Holdings Inc. has a twelve month low of $41.14 and a twelve month high of $58.14. The company has a 50 day moving average of $53.10 and a 200-day moving average of $52.66.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share 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 the consensus estimate of $1.48 billion. Silgan had a return on equity of 20.00% and a net margin of 4.82%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 earnings per share. As a group, analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Monday, June 2nd. Silgan’s payout ratio is 29.74%.

Silgan Company 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.