Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in Silgan Holdings Inc. (NYSE:SLGN) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,253 shares of the industrial products company’s stock after selling 919 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Silgan were worth $482,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bank of Jackson Hole Trust acquired a new stake in shares of Silgan during the fourth quarter worth approximately $59,000. Smartleaf Asset Management LLC grew its position in shares of Silgan by 1,229.7% during 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 in the last quarter. KBC Group NV grew its position in shares of Silgan by 27.7% during the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after buying an additional 494 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Silgan by 48.6% during 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 in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Silgan during the third quarter worth approximately $154,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Wells Fargo & Company raised their target price on Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Truist Financial reiterated a “buy” rating and issued a $70.00 target price (up from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Bank of America raised their target price on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada raised their target price on Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.22.

Insider Buying and Selling

In related news, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction dated Monday, February 24th. The stock was 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the completion of the transaction, the executive vice president now directly owns 152,133 shares in the company, valued at $8,096,518.26. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate insiders.

Silgan Price Performance

Shares of SLGN opened at $50.01 on Thursday. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 19.38, 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 stock’s fifty day moving average is $52.84 and its 200-day moving average is $52.76.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. Equities analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.20 per share. This is a positive change from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Monday, March 17th. Silgan’s payout ratio is presently 31.01%.

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.