State of Alaska Department of Revenue Decreases Holdings in Silgan Holdings Inc. (NYSE:SLGN)

State of Alaska Department of Revenue decreased its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 0.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,313 shares of the industrial products company’s stock after selling 505 shares during the quarter. State of Alaska Department of Revenue owned 0.23% of Silgan worth $12,692,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SLGN. Proficio Capital Partners LLC purchased a new stake in Silgan in the 4th quarter valued at approximately $873,000. Smartleaf Asset Management LLC lifted its stake in Silgan by 1,229.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock valued at $107,000 after buying an additional 1,906 shares in the last quarter. Atria Investments Inc raised its holdings in Silgan by 9.2% in the 4th quarter. Atria Investments Inc now owns 5,067 shares of the industrial products company’s stock valued at $264,000 after acquiring an additional 427 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in Silgan by 7.4% in the 4th quarter. Sanctuary Advisors LLC now owns 7,715 shares of the industrial products company’s stock valued at $433,000 after acquiring an additional 533 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Silgan by 8.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 50,457 shares of the industrial products company’s stock valued at $2,627,000 after acquiring an additional 4,030 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Silgan Stock Down 0.1%

Shares of NYSE SLGN opened at $53.64 on Thursday. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. The company has a market cap of $5.74 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.20 and a beta of 0.76. The company has a current ratio of 1.14, a quick ratio of 0.67 and a debt-to-equity ratio of 1.67. The stock has a fifty day moving average price of $53.19 and a 200 day moving average price of $52.67.

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

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 dividend on an annualized basis and a yield of 1.49%. Silgan’s payout ratio is currently 29.74%.

Insider Buying and Selling at Silgan

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 transaction, the executive vice president now owns 153,378 shares of the company’s stock, valued at approximately $8,576,897.76. This trade represents a 6.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the vice president now directly owns 1,380 shares in the company, valued at $74,589. The trade was 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.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SLGN shares. Truist Financial cut their price target on Silgan from $70.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Citigroup boosted their price target on Silgan from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, May 8th. 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 report on Thursday, May 1st. Finally, Raymond James Financial upgraded Silgan from an “outperform” rating to a “strong-buy” rating and cut their price target for the company from $65.00 to $60.00 in a report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target 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.