Silgan Holdings Inc. (NASDAQ:SLGN) CFO Robert B. Lewis Sells 20,000 Shares

Silgan Holdings Inc. (NASDAQ:SLGN) CFO Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $42.13, for a total value of $842,600.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of SLGN opened at $42.27 on Thursday. Silgan Holdings Inc. has a 12-month low of $33.62 and a 12-month high of $44.55. The company has a quick ratio of 0.70, a current ratio of 1.07 and a debt-to-equity ratio of 2.19. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 2.51 and a beta of 0.80. The stock’s 50-day moving average price is $40.49 and its 200 day moving average price is $41.20.

Silgan (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, October 27th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). Silgan had a net margin of 6.12% and a return on equity of 26.60%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. Equities research analysts expect that Silgan Holdings Inc. will post 3.35 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st will be paid a $0.14 dividend. The ex-dividend date is Tuesday, November 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.32%. Silgan’s dividend payout ratio is currently 18.60%.

A number of analysts have weighed in on SLGN shares. BMO Capital Markets boosted their price target on Silgan from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 22nd. Loop Capital started coverage on Silgan in a research report on Tuesday, October 5th. They issued a “buy” rating and a $62.00 price target for the company. Truist Securities started coverage on Silgan in a research report on Tuesday, September 14th. They issued a “hold” rating and a $46.00 price target for the company. JPMorgan Chase & Co. cut Silgan from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $44.00 to $40.00 in a research report on Friday, October 1st. Finally, Royal Bank of Canada boosted their price objective on Silgan from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, October 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $46.87.

Several hedge funds have recently added to or reduced their stakes in SLGN. First Trust Advisors LP grew its stake in shares of Silgan by 265.0% in the 2nd quarter. First Trust Advisors LP now owns 2,091,848 shares of the industrial products company’s stock valued at $86,812,000 after purchasing an additional 1,518,700 shares during the period. Wellington Management Group LLP grew its stake in shares of Silgan by 18.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,234,427 shares of the industrial products company’s stock valued at $162,433,000 after purchasing an additional 665,200 shares during the period. Victory Capital Management Inc. grew its stake in shares of Silgan by 25.1% in the 3rd quarter. Victory Capital Management Inc. now owns 2,825,985 shares of the industrial products company’s stock valued at $108,404,000 after purchasing an additional 567,325 shares during the period. Vanguard Group Inc. grew its stake in shares of Silgan by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 8,543,981 shares of the industrial products company’s stock valued at $354,574,000 after purchasing an additional 554,605 shares during the period. Finally, Morgan Stanley grew its stake in shares of Silgan by 348.3% in the 3rd quarter. Morgan Stanley now owns 624,936 shares of the industrial products company’s stock valued at $23,973,000 after purchasing an additional 485,543 shares during the period. Institutional investors own 67.95% of the company’s stock.

About Silgan

Silgan Holdings, Inc engages in the manufacture and sale of rigid packaging for consumer goods products. It operates through the following business segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment includes steel and aluminium containers for human and pet food, and general line products.

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