Silgan Holdings Inc. (SLGN) VP Adam J. Greenlee Sells 5,643 Shares
Silgan Holdings Inc. (NASDAQ:SLGN) VP Adam J. Greenlee sold 5,643 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $61.56, for a total value of $347,383.08. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Silgan Holdings Inc. (NASDAQ:SLGN) traded up 0.40% during mid-day trading on Tuesday, hitting $62.56. The stock had a trading volume of 147,198 shares. The stock has a 50 day moving average price of $60.36 and a 200 day moving average price of $56.72. Silgan Holdings Inc. has a 52 week low of $47.16 and a 52 week high of $64.98. The firm has a market cap of $3.45 billion, a PE ratio of 24.54 and a beta of 0.57. Silgan Holdings shares are going to split on Monday, May 29th. The 2-1 split was announced on Thursday, May 4th. The newly issued shares will be distributed to shareholders after the closing bell on Friday, May 26th.
Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.09. Silgan Holdings had a return on equity of 25.75% and a net margin of 4.25%. The company had revenue of $805.40 million during the quarter, compared to analysts’ expectations of $795.58 million. During the same quarter in the previous year, the firm earned $0.45 EPS. Silgan Holdings’s revenue was up 1.6% on a year-over-year basis. Equities research analysts expect that Silgan Holdings Inc. will post $3.32 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, May 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.58%. Silgan Holdings’s dividend payout ratio (DPR) is currently 26.67%.
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Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Silgan Holdings by 12,224.8% in the first quarter. BlackRock Inc. now owns 3,200,257 shares of the industrial products company’s stock worth $189,966,000 after buying an additional 3,174,291 shares during the period. Norges Bank acquired a new position in Silgan Holdings during the fourth quarter worth approximately $36,931,000. Russell Investments Group Ltd. acquired a new position in Silgan Holdings during the fourth quarter worth approximately $30,833,000. FMR LLC boosted its position in Silgan Holdings by 9.2% in the fourth quarter. FMR LLC now owns 6,889,466 shares of the industrial products company’s stock worth $352,602,000 after buying an additional 582,820 shares during the period. Finally, American Century Companies Inc. acquired a new position in Silgan Holdings during the first quarter worth approximately $33,329,000. 74.27% of the stock is owned by institutional investors.
SLGN has been the subject of several recent analyst reports. Bank of America Corp upgraded Silgan Holdings from an “underperform” rating to a “buy” rating in a research note on Monday, January 23rd. BMO Capital Markets upgraded Silgan Holdings from a “market perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Tuesday, January 24th. Barclays PLC increased their price objective on Silgan Holdings from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, February 6th. Zacks Investment Research upgraded Silgan Holdings from a “sell” rating to a “hold” rating in a research note on Monday, April 17th. Finally, KeyCorp reiterated a “hold” rating on shares of Silgan Holdings in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Silgan Holdings currently has an average rating of “Hold” and an average price target of $56.33.
About Silgan Holdings
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
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