Silgan Holdings Inc. (NYSE:SLGN) Stock Holdings Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,773 shares of the industrial products company’s stock after selling 1,101 shares during the period. Mutual of America Capital Management LLC’s holdings in Silgan were worth $2,135,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new position in shares of Silgan in the 4th quarter worth $873,000. Swiss National Bank grew its holdings in shares of Silgan by 0.7% during the fourth quarter. Swiss National Bank now owns 168,000 shares of the industrial products company’s stock valued at $8,744,000 after buying an additional 1,200 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Silgan by 5.4% during the fourth quarter. Natixis Advisors LLC now owns 47,498 shares of the industrial products company’s stock valued at $2,472,000 after buying an additional 2,427 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Silgan by 10.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,822 shares of the industrial products company’s stock valued at $511,000 after buying an additional 920 shares in the last quarter. Finally, Xponance Inc. grew its holdings in shares of Silgan by 6.6% during the fourth quarter. Xponance Inc. now owns 9,370 shares of the industrial products company’s stock valued at $488,000 after buying an additional 579 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Analyst Ratings Changes

SLGN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price target on the stock in a report on Thursday, May 1st. Wells Fargo & Company boosted their target price on Silgan from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday. Raymond James Financial restated a “strong-buy” rating on shares of Silgan in a research note on Tuesday. Citigroup boosted their target price on Silgan from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Finally, Truist Financial set a $67.00 target price on Silgan and gave the company a “buy” rating in a research note on Friday, July 11th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.78.

Insider Buying and Selling at Silgan

In other news, VP B Frederik Prinzen sold 2,378 shares of the firm’s stock in a transaction 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 directly owned 1,380 shares in the company, valued at $74,589. This trade represents a 63.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert B. Lewis sold 10,000 shares of the firm’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.92, for a total value of $559,200.00. Following the sale, the executive vice president directly owned 153,378 shares in the company, valued at $8,576,897.76. The trade was a 6.12% decrease in their position. The disclosure for this sale can be found here. 1.13% of the stock is owned by company insiders.

Silgan Trading Down 0.2%

Silgan stock opened at $55.23 on Friday. Silgan Holdings Inc. has a 12 month low of $44.37 and a 12 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. The business has a 50 day moving average price of $54.88 and a two-hundred day moving average price of $52.84. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.75.

Silgan (NYSE:SLGN) last released its quarterly 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 business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. Silgan had a return on equity of 20.00% and a net margin of 4.82%. Silgan’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 EPS. As a group, equities analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Announces Dividend

The business 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 of this dividend was Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.45%. Silgan’s dividend payout ratio 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.