AlphaQuest LLC Has $154,000 Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

AlphaQuest LLC decreased its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 91.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,954 shares of the industrial products company’s stock after selling 30,317 shares during the quarter. AlphaQuest LLC’s holdings in Silgan were worth $154,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Edgestream Partners L.P. acquired a new stake in Silgan during the 4th quarter valued at $1,054,000. Raymond James Financial Inc. bought a new position in Silgan during the 4th quarter worth $11,419,000. Arizona State Retirement System increased its position in Silgan by 0.8% during the 4th quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company’s stock worth $1,290,000 after buying an additional 195 shares during the period. Proficio Capital Partners LLC bought a new position in Silgan during the 4th quarter worth $873,000. Finally, M&T Bank Corp increased its position in Silgan by 2.4% during the 4th quarter. M&T Bank Corp now owns 16,970 shares of the industrial products company’s stock worth $883,000 after buying an additional 404 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Trading Up 0.4 %

Shares of Silgan stock opened at $49.83 on Tuesday. The stock has a fifty day simple moving average of $52.89 and a 200 day simple moving average of $52.80. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. The company has a market capitalization of $5.32 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share 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%. On average, sell-side analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Silgan’s previous quarterly dividend of $0.19. Silgan’s dividend payout ratio is currently 31.01%.

Analyst Ratings Changes

SLGN has been the topic of several recent research reports. Bank of America increased their price objective on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company raised their price target on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Robert W. Baird raised their price target on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada raised their price target on Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Truist Financial restated a “buy” rating and issued a $70.00 price target (up previously from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Silgan presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.22.

Insider Activity

In other Silgan news, 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 value of $6,841,250.00. Following the transaction, the chief executive officer now directly owns 227,332 shares in the company, valued at $12,441,880.36. This represents a 35.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of the company’s 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 owns 152,133 shares in the company, valued at $8,096,518.26. This represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

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.