Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 2.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 37,693 shares of the industrial products company’s stock after selling 1,131 shares during the period. Amalgamated Bank’s holdings in Silgan were worth $1,927,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in shares of Silgan by 0.8% in the fourth quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company’s stock valued at $1,290,000 after buying an additional 195 shares during the last quarter. Central Pacific Bank Trust Division raised its position in shares of Silgan by 5.9% in the first quarter. Central Pacific Bank Trust Division now owns 3,760 shares of the industrial products company’s stock valued at $192,000 after buying an additional 210 shares during the last quarter. Aristeia Capital L.L.C. raised its position in shares of Silgan by 4.0% in the fourth quarter. Aristeia Capital L.L.C. now owns 5,488 shares of the industrial products company’s stock valued at $286,000 after buying an additional 212 shares during the last quarter. Treasurer of the State of North Carolina raised its position in shares of Silgan by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 36,440 shares of the industrial products company’s stock valued at $1,897,000 after buying an additional 230 shares during the last quarter. Finally, Synovus Financial Corp raised its position in shares of Silgan by 1.6% in the fourth quarter. Synovus Financial Corp now owns 22,721 shares of the industrial products company’s stock valued at $1,183,000 after buying an additional 368 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SLGN shares. Citigroup increased their target price 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. Raymond James Financial raised shares of Silgan from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $65.00 to $60.00 in a report on Tuesday, April 22nd. JPMorgan Chase & Co. raised shares of Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price objective for the company in a report on Thursday, May 1st. Finally, 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 report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $63.11.

Insider Activity

In other news, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $55.92, for a total transaction of $559,200.00. Following the sale, the executive vice president owned 153,378 shares of the company’s stock, valued at approximately $8,576,897.76. This represents a 6.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP B Frederik Prinzen sold 2,378 shares of the stock in a transaction dated Tuesday, May 6th. The stock was 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 in the company, valued at $74,589. This represents a 63.28% decrease in their position. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by corporate insiders.

Silgan Trading Down 0.2%

Shares of SLGN stock opened at $56.67 on Monday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.14 and a quick ratio of 0.67. The firm has a market cap of $6.06 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 1.27 and a beta of 0.75. The company has a 50-day moving average of $54.48 and a two-hundred day moving average of $52.65. Silgan Holdings Inc. has a 1-year low of $41.85 and a 1-year high of $58.14.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. Silgan had a net margin of 4.82% and a return on equity of 20.00%. Silgan’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. On average, analysts predict 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 dividend of $0.20 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. Silgan’s dividend 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.