Corient Private Wealth LLC Sells 12,275 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Corient Private Wealth LLC lowered its stake in Silgan Holdings Inc. (NYSE:SLGN) by 69.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,492 shares of the industrial products company’s stock after selling 12,275 shares during the quarter. Corient Private Wealth LLC’s holdings in Silgan were worth $286,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SLGN. Bank of Jackson Hole Trust purchased a new stake in shares of Silgan in the 4th quarter worth about $59,000. Smartleaf Asset Management LLC lifted its holdings in Silgan by 1,229.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock worth $107,000 after buying an additional 1,906 shares during the period. GAMMA Investing LLC lifted its holdings in Silgan by 48.6% in the fourth quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock worth $137,000 after buying an additional 863 shares during the period. Point72 Asset Management L.P. bought a new stake in Silgan during the 3rd quarter valued at approximately $154,000. Finally, KBC Group NV grew its holdings in shares of 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. Institutional investors own 70.25% of the company’s stock.

Insider Activity at Silgan

In related news, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the transaction, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the completion of the sale, the executive vice president now directly owns 152,133 shares of the company’s stock, valued at approximately $8,096,518.26. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by insiders.

Silgan Stock Performance

Shares of SLGN stock opened at $51.17 on Tuesday. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. 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 Holdings Inc. has a one year low of $41.14 and a one year high of $58.14. The company’s 50-day moving average is $52.62 and its 200 day moving average is $52.78.

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

Silgan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.20 per share. This is an increase from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Monday, March 17th. Silgan’s dividend payout ratio is presently 31.01%.

Analysts Set New Price Targets

A number of research firms have recently commented on SLGN. Truist Financial restated a “buy” rating and issued a $70.00 target price (up previously from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Royal Bank of Canada raised their price objective on Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their target price on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Raymond James lifted their price target on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Robert W. Baird upped their price objective on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Silgan has an average rating of “Moderate Buy” and an average price target of $64.22.

Silgan Profile

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.