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

Silgan Holdings Inc. (NYSE:SLGN) CEO Adam J. Greenlee sold 125,000 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the transaction, the chief executive officer now 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Silgan Price Performance

Shares of SLGN opened at $54.65 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 1.27 and a beta of 0.71. The business’s 50-day moving average is $53.05 and its 200-day moving average is $52.68. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. Silgan’s payout ratio is 29.46%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SLGN. Integrated Advisors Network LLC bought a new stake in Silgan in the fourth quarter worth $545,000. Mackenzie Financial Corp acquired a new position in shares of Silgan in the fourth quarter valued at $540,000. Alpine Global Management LLC bought a new position in shares of Silgan during the 4th quarter worth about $800,000. PharVision Advisers LLC bought a new position in Silgan during the fourth quarter worth about $392,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Silgan by 10.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 199,202 shares of the industrial products company’s stock valued at $10,368,000 after purchasing an additional 18,670 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Wells Fargo & Company upped their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Royal Bank of Canada raised their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Robert W. Baird upped their target price on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Loop Capital lifted their price target on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Silgan presently has an average rating of “Moderate Buy” and a consensus target price 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.