Crossmark Global Holdings Inc. Sells 707 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Crossmark Global Holdings Inc. lowered its position in Silgan Holdings Inc. (NYSE:SLGN) by 10.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,164 shares of the industrial products company’s stock after selling 707 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Silgan were worth $261,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SLGN. Russell Investments Group Ltd. lifted its position in shares of Silgan by 0.7% in the 4th quarter. Russell Investments Group Ltd. now owns 165,470 shares of the industrial products company’s stock worth $7,488,000 after acquiring an additional 1,081 shares during the period. New York Life Investment Management LLC bought a new stake in shares of Silgan in the 4th quarter worth approximately $402,000. Natixis Advisors L.P. lifted its position in shares of Silgan by 10.2% in the 4th quarter. Natixis Advisors L.P. now owns 34,536 shares of the industrial products company’s stock worth $1,562,000 after acquiring an additional 3,205 shares during the period. Principal Securities Inc. acquired a new position in shares of Silgan in the 4th quarter worth approximately $30,000. Finally, AGF Management Ltd. raised its holdings in shares of Silgan by 1.6% in the 4th quarter. AGF Management Ltd. now owns 68,101 shares of the industrial products company’s stock worth $3,082,000 after buying an additional 1,061 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Insider Activity

In other news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the completion of the sale, the vice president now directly owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.39% of the company’s stock.

Silgan Trading Down 0.6 %

SLGN stock opened at $50.94 on Thursday. The business has a fifty day moving average price of $47.53 and a 200 day moving average price of $46.51. Silgan Holdings Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $52.84. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 1.52 and a beta of 0.67. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm posted $0.83 EPS. The business’s revenue was down 3.2% on a year-over-year basis. Analysts expect 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 will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.19 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.49%. Silgan’s dividend payout ratio (DPR) is currently 26.67%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their target price on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $46.00 to $53.00 in a report on Thursday, August 1st. Truist Financial reissued a “buy” rating and issued a $59.00 target price (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Finally, StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Silgan presently has an average rating of “Moderate Buy” and an average target price of $57.00.

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.