Sei Investments Co. Has $13.23 Million Stake in Silgan Holdings Inc. (NYSE:SLGN)

Sei Investments Co. lowered its position in Silgan Holdings Inc. (NYSE:SLGN) by 0.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 254,163 shares of the industrial products company’s stock after selling 1,683 shares during the period. Sei Investments Co.’s holdings in Silgan were worth $13,229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System raised its holdings in shares of Silgan by 0.8% during the 4th quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company’s stock valued at $1,290,000 after purchasing an additional 195 shares in the last quarter. M&T Bank Corp lifted its position in shares of Silgan by 2.4% in the fourth 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 last quarter. Keybank National Association OH boosted its stake in shares of Silgan by 3.4% during the 4th quarter. Keybank National Association OH now owns 12,678 shares of the industrial products company’s stock worth $660,000 after acquiring an additional 411 shares in the last quarter. Atria Investments Inc raised its stake in shares of Silgan by 9.2% in the 4th quarter. Atria Investments Inc now owns 5,067 shares of the industrial products company’s stock valued at $264,000 after acquiring an additional 427 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Silgan by 5.7% in the 3rd quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company’s stock worth $441,000 after purchasing an additional 456 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Insider Buying and Selling at Silgan

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the sale, the executive vice president now directly owns 152,133 shares of the company’s stock, valued at approximately $8,096,518.26. This represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the transaction, the chief executive officer now owns 227,332 shares of the company’s stock, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SLGN. Loop Capital increased their price target on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Truist Financial reiterated a “buy” rating and issued a $70.00 target price (up previously from $69.00) on shares of Silgan in a report on Thursday, January 30th. Raymond James upped their price target on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Bank of America lifted their price objective on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their target price on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Silgan presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.22.

Silgan Price Performance

Shares of SLGN stock opened at $50.69 on Friday. The stock has a 50 day moving average of $52.65 and a two-hundred day moving average of $52.73. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $5.41 billion, a P/E ratio of 19.65, a P/E/G ratio of 1.27 and a beta of 0.71. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14.

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

Silgan Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Silgan’s previous quarterly dividend of $0.19. Silgan’s dividend payout ratio is 31.01%.

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.