Silgan (NYSE:SLGN) Sees Strong Trading Volume

Silgan Holdings Inc. (NYSE:SLGN) shares saw unusually-strong trading volume on Thursday . Approximately 658,076 shares were traded 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.

Analyst Upgrades and Downgrades

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

Silgan Stock Performance

The firm has a market cap of $4.51 billion, a P/E ratio of 14.84, a PEG ratio of 1.44 and a beta of 0.69. The company has a current ratio of 1.04, a quick ratio of 0.62 and a debt-to-equity ratio of 1.33. The company’s 50-day moving average is $45.95 and its two-hundred day moving average is $45.37.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the firm earned $0.78 EPS. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. As a group, equities analysts predict that Silgan Holdings Inc. will post 3.66 EPS for the current fiscal year.

Silgan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.19 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.80%. Silgan’s dividend payout ratio is currently 26.67%.

Insider Transactions at Silgan

In other news, VP B Frederik Prinzen sold 4,093 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $47.84, for a total transaction of $195,809.12. Following the completion of the sale, the vice president now owns 4,520 shares in the company, valued at approximately $216,236.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Jay A. Martin sold 21,330 shares of Silgan stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $46.73, for a total value of $996,750.90. Following the completion of the transaction, the senior vice president now directly owns 165,989 shares in the company, valued at approximately $7,756,665.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP B Frederik Prinzen sold 4,093 shares of Silgan stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $47.84, for a total transaction of $195,809.12. Following the completion of the transaction, the vice president now owns 4,520 shares of the company’s stock, valued at $216,236.80. The disclosure for this sale can be found here. Insiders sold a total of 59,651 shares of company stock worth $2,804,226 in the last quarter. Insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Principal Securities Inc. bought a new position in Silgan in the 4th quarter valued at $30,000. Quent Capital LLC boosted its holdings in Silgan by 94.9% in the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 505 shares during the period. Covestor Ltd boosted its holdings in 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 purchasing an additional 462 shares during the period. Blue Trust Inc. boosted its holdings in Silgan by 4,440.4% in the 4th quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 2,087 shares during the period. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Silgan during the 1st quarter worth $194,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Company 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.