Central Pacific Bank Trust Division Trims Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Central Pacific Bank Trust Division lessened its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 15.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,360 shares of the industrial products company’s stock after selling 620 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Silgan were worth $176,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Blue Trust Inc. increased its holdings in shares of Silgan by 256.6% in the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 426 shares during the period. Covestor Ltd increased its holdings in shares of Silgan by 69.7% in the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 462 shares during the period. Versant Capital Management Inc increased its holdings in shares of Silgan by 2,838.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 1,107 shares during the period. GAMMA Investing LLC increased its holdings in shares of Silgan by 109.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 613 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Silgan in the 2nd quarter valued at $70,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analysts Set New Price Targets

SLGN has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Royal Bank of Canada lifted their target price on shares of Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Truist Financial reissued a “buy” rating and issued a $59.00 price objective (up from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Citigroup boosted their price objective on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.00.

Silgan Price Performance

Shares of NYSE SLGN opened at $51.52 on Friday. The firm has a market capitalization of $5.50 billion, a P/E ratio of 18.08, a PEG ratio of 1.50 and a beta of 0.67. Silgan Holdings Inc. has a one year low of $38.11 and a one year high of $52.84. The company’s fifty day moving average is $50.54 and its two-hundred day moving average is $47.49. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS. Analysts forecast that Silgan Holdings Inc. will post 3.66 EPS for the current fiscal year.

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.48%. Silgan’s payout ratio is currently 26.67%.

Insiders Place Their Bets

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the sale, the vice president now directly owns 11,495 shares in the company, valued at $563,714.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.39% of the company’s stock.

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.