Balyasny Asset Management L.P. Has $337,000 Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Balyasny Asset Management L.P. lessened its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 90.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,468 shares of the industrial products company’s stock after selling 60,366 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Silgan were worth $337,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GeoWealth Management LLC acquired a new stake in Silgan during the 4th quarter worth $56,000. Bank of Jackson Hole Trust acquired a new stake in Silgan during the 4th quarter worth $59,000. Smartleaf Asset Management LLC grew its holdings in Silgan by 1,229.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,906 shares during the period. KBC Group NV grew its holdings in Silgan by 52.5% during the 4th quarter. KBC Group NV now owns 3,473 shares of the industrial products company’s stock worth $181,000 after acquiring an additional 1,196 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in Silgan by 153.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company’s stock worth $185,000 after acquiring an additional 2,145 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Price Performance

Shares of NYSE SLGN opened at $55.44 on Friday. The firm has a market cap of $5.93 billion, a PE ratio of 21.49, a PEG ratio of 1.27 and a beta of 0.74. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14. The company has a fifty day moving average price of $50.79 and a 200 day moving average price of $52.67.

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 analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The company’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 business earned $0.69 EPS. Research analysts predict that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Monday, June 2nd. Silgan’s payout ratio is presently 29.74%.

Insider Buying and Selling

In other Silgan news, VP B Frederik Prinzen sold 2,378 shares of the business’s stock in a transaction dated 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 now directly owns 1,380 shares of the company’s stock, valued at $74,589. The trade was a 63.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the sale, the chief executive officer now directly owns 227,332 shares in the company, valued at $12,441,880.36. This trade represents a 35.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SLGN shares. Wells Fargo & Company boosted their price target on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Truist Financial decreased their price target 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. Royal Bank of Canada boosted their price target on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised shares of Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price target for the company in a report on Thursday, May 1st. Finally, Citigroup boosted their price target on shares of Silgan from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, May 8th. One research 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 company’s stock. Based on data from MarketBeat, Silgan has a consensus rating of “Buy” and an average target price of $63.11.

About Silgan

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.