Silgan (NYSE:SLGN) Sees Unusually-High Trading Volume

Silgan Holdings Inc. (NYSE:SLGN) saw unusually-high trading volume on Thursday . Approximately 658,076 shares changed hands during trading, an increase of 16% from the previous session’s volume of 568,534 shares.The stock last traded at $43.03 and had previously closed at $43.51.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company decreased their target price on Silgan from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Silgan Trading Down 1.4 %

The company has a 50 day moving average of $46.13 and a 200-day moving average of $45.39. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.62 and a current ratio of 1.04. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.47 and a beta of 0.69.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. Silgan had a return on equity of 19.26% and a net margin of 5.25%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the company earned $0.78 EPS. Silgan’s revenue was down 7.1% on a year-over-year basis. On average, research analysts anticipate that Silgan Holdings Inc. will post 3.66 earnings per share for the current year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Monday, June 3rd. Silgan’s dividend payout ratio is currently 26.67%.

Insider Buying and Selling at Silgan

In other news, EVP Robert B. Lewis sold 30,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $47.08, for a total value of $1,412,400.00. Following the transaction, the executive vice president now owns 172,133 shares in the company, valued at approximately $8,104,021.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP B Frederik Prinzen sold 4,093 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $47.84, for a total value of $195,809.12. Following the transaction, the vice president now owns 4,520 shares in the company, valued at approximately $216,236.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert B. Lewis sold 30,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $47.08, for a total value of $1,412,400.00. Following the completion of the transaction, the executive vice president now owns 172,133 shares in the company, valued at approximately $8,104,021.64. The disclosure for this sale can be found here. Insiders have sold 59,651 shares of company stock valued at $2,804,226 in the last quarter. Corporate insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SLGN. SG Capital Management LLC purchased a new position in shares of Silgan in the 1st quarter valued at approximately $8,584,000. Verity Asset Management Inc. purchased a new position in shares of Silgan in the 1st quarter valued at approximately $220,000. Cetera Investment Advisers purchased a new position in shares of Silgan in the 1st quarter valued at approximately $6,352,000. Tidal Investments LLC purchased a new position in shares of Silgan in the 1st quarter valued at approximately $744,000. Finally, Janus Henderson Group PLC grew its stake in shares of Silgan by 95.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock valued at $59,462,000 after purchasing an additional 598,472 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

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.