Adam J. Greenlee Sells 125,000 Shares of Silgan Holdings Inc. (NYSE:SLGN) Stock

Silgan Holdings Inc. (NYSE:SLGN) CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $54.73, for a total value of $6,841,250.00. Following the transaction, the chief executive officer now directly owns 227,332 shares of the company’s stock, valued at approximately $12,441,880.36. This trade represents a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Silgan Price Performance

NYSE:SLGN opened at $54.28 on Friday. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 1.27 and a beta of 0.71. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. The stock has a fifty day moving average of $53.13 and a 200 day moving average of $52.73. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. On average, research analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, March 17th. This represents a $0.80 annualized dividend and a yield of 1.47%. This is a positive change from Silgan’s previous quarterly dividend of $0.19. Silgan’s payout ratio is 29.46%.

Institutional Investors Weigh In On Silgan

Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its stake in Silgan by 0.8% during the fourth quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company’s stock worth $1,290,000 after purchasing an additional 195 shares during the last quarter. Aristeia Capital L.L.C. lifted its stake in Silgan by 4.0% during the fourth quarter. Aristeia Capital L.L.C. now owns 5,488 shares of the industrial products company’s stock worth $286,000 after purchasing an additional 212 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Silgan by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 36,440 shares of the industrial products company’s stock worth $1,897,000 after purchasing an additional 230 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Silgan by 7.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company’s stock worth $290,000 after purchasing an additional 361 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in Silgan by 1.6% during the fourth quarter. Synovus Financial Corp now owns 22,721 shares of the industrial products company’s stock worth $1,183,000 after purchasing an additional 368 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SLGN shares. Loop Capital raised their price target on Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Royal Bank of Canada raised their price target on Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Robert W. Baird raised their price target on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Raymond James raised their price target on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

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.