GAMMA Investing LLC Has $111,000 Holdings in Silgan Holdings Inc. (NYSE:SLGN)

GAMMA Investing LLC lessened its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 18.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,164 shares of the industrial products company’s stock after selling 476 shares during the quarter. GAMMA Investing LLC’s holdings in Silgan were worth $111,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SLGN. UMB Bank n.a. grew its holdings in shares of Silgan by 254.9% in the 1st quarter. UMB Bank n.a. now owns 898 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 645 shares in the last quarter. GeoWealth Management LLC bought a new position in Silgan during the fourth quarter worth about $56,000. Smartleaf Asset Management LLC grew its holdings in 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 worth $107,000 after purchasing an additional 1,906 shares during the period. Central Pacific Bank Trust Division grew its holdings in Silgan by 5.9% during the first quarter. Central Pacific Bank Trust Division now owns 3,760 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 210 shares during the period. Finally, RDA Financial Network bought a new position in Silgan during the first quarter worth about $242,000. Institutional investors own 70.25% of the company’s stock.

Insider Activity at Silgan

In related news, 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 transaction of $128,530.90. Following the sale, the vice president directly owned 1,380 shares of the company’s stock, valued at approximately $74,589. This represents a 63.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 transaction of $559,200.00. Following the transaction, the executive vice president directly owned 153,378 shares in the company, valued at approximately $8,576,897.76. The trade was a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SLGN. Raymond James Financial upgraded Silgan from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. Truist Financial cut their price target on Silgan from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. upgraded Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price target for the company in a research note on Thursday, May 1st. Finally, Citigroup boosted their price target on Silgan from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $63.11.

Silgan Stock Down 0.2%

Shares of Silgan stock opened at $56.67 on Monday. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 1.27 and a beta of 0.75. The company’s 50 day moving average is $54.48 and its 200 day moving average is $52.65. Silgan Holdings Inc. has a twelve month low of $41.85 and a twelve month high of $58.14. The company has a quick ratio of 0.67, a current ratio of 1.14 and a debt-to-equity ratio of 1.67.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a net margin of 4.82% and a return on equity of 20.00%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. Research analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.20 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. Silgan’s payout ratio is presently 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.