Robeco Institutional Asset Management B.V. Sells 381,255 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Posted by Defense World Staff on Oct 15th, 2023

Robeco Institutional Asset Management B.V. decreased its stake in shares of Silgan Holdings Inc. (NYSE:SLGN – Free Report) by 97.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,764 shares of the industrial products company’s stock after selling 381,255 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Silgan were worth $552,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Machina Capital S.A.S. bought a new stake in shares of Silgan during the 1st quarter valued at $28,000. Signaturefd LLC increased its stake in shares of Silgan by 234.0% during the first quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 379 shares in the last quarter. Eagle Bay Advisors LLC lifted its holdings in shares of Silgan by 151.1% during the second quarter. Eagle Bay Advisors LLC now owns 836 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 503 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Silgan by 1,087.9% in the 1st quarter. Bessemer Group Inc. now owns 1,176 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 1,077 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of Silgan by 65.2% in the 1st quarter. Captrust Financial Advisors now owns 1,895 shares of the industrial products company’s stock worth $88,000 after buying an additional 748 shares during the last quarter. Hedge funds and other institutional investors own 66.24% of the company’s stock.

Silgan Stock Performance

Shares of SLGN stock opened at $40.29 on Friday. The firm has a market capitalization of $4.43 billion, a PE ratio of 14.24, a P/E/G ratio of 2.41 and a beta of 0.78. The company has a 50 day moving average price of $43.63 and a 200-day moving average price of $46.45. Silgan Holdings Inc. has a 52 week low of $40.04 and a 52 week high of $55.41. The company has a quick ratio of 0.77, a current ratio of 1.44 and a debt-to-equity ratio of 1.79.

Silgan (NYSE:SLGN – Get Free Report) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.08). The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Silgan had a net margin of 5.01% and a return on equity of 23.35%. Silgan’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 earnings per share. As a group, equities research analysts expect that Silgan Holdings Inc. will post 3.49 earnings per share for the current year.

Silgan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.79%. Silgan’s payout ratio is 25.44%.

Insider Buying and Selling at Silgan

In other news, EVP Robert B. Lewis sold 10,031 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $44.18, for a total value of $443,169.58. Following the transaction, the executive vice president now owns 219,198 shares in the company, valued at approximately $9,684,167.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Robert B. Lewis sold 10,031 shares of Silgan stock in a transaction on Monday, August 7th. The stock was sold at an average price of $44.18, for a total transaction of $443,169.58. Following the transaction, the executive vice president now directly owns 219,198 shares in the company, valued at $9,684,167.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph M. Jordan sold 2,967 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $44.96, for a total value of $133,396.32. Following the completion of the sale, the director now owns 29,437 shares of the company’s stock, valued at approximately $1,323,487.52. The disclosure for this sale can be found here. Corporate insiders own 13.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com cut Silgan from a “hold” rating to a “sell” rating in a research note on Wednesday. Robert W. Baird upgraded shares of Silgan from a “neutral” rating to an “outperform” rating and set a $53.00 price target on the stock in a research note on Thursday, July 27th. Citigroup cut their price objective on shares of Silgan from $50.00 to $48.00 in a research report on Tuesday, October 10th. Bank of America dropped their target price on shares of Silgan from $64.00 to $59.00 in a research note on Monday, July 10th. Finally, Raymond James reduced their price target on shares of Silgan from $55.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.67.

Read Our Latest Analysis on SLGN

Silgan Profile

(Free Report)

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, and beauty products, as well as capping/sealing equipment and detection systems.