Deprince Race & Zollo Inc. Cuts Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Deprince Race & Zollo Inc. lessened its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 20.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 371,711 shares of the industrial products company’s stock after selling 96,531 shares during the period. Deprince Race & Zollo Inc. owned approximately 0.35% of Silgan worth $19,348,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLGN. 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 purchasing an additional 195 shares in the last quarter. Aristeia Capital L.L.C. lifted its holdings in shares of Silgan by 4.0% during the 4th quarter. Aristeia Capital L.L.C. now owns 5,488 shares of the industrial products company’s stock valued at $286,000 after acquiring an additional 212 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in Silgan by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,440 shares of the industrial products company’s stock worth $1,897,000 after purchasing an additional 230 shares during the period. Synovus Financial Corp increased its holdings in Silgan by 1.6% in the 4th quarter. Synovus Financial Corp now owns 22,721 shares of the industrial products company’s stock valued at $1,183,000 after purchasing an additional 368 shares in the last quarter. Finally, LPL Financial LLC raised its position in Silgan by 1.8% in the fourth quarter. LPL Financial LLC now owns 21,793 shares of the industrial products company’s stock valued at $1,134,000 after purchasing an additional 393 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Silgan Price Performance

NYSE SLGN opened at $53.83 on Friday. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The business’s fifty day moving average is $50.45 and its two-hundred day moving average is $52.53. The stock has a market capitalization of $5.76 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.27 and a beta of 0.74. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a return on equity of 19.70% and a net margin of 4.72%. Silgan’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 earnings per share. On average, research analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. Silgan’s dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

SLGN has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Royal Bank of Canada lifted their target price on Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Raymond James upgraded Silgan from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upgraded Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 target price for the company in a research note on Thursday, May 1st. Finally, Robert W. Baird upped their price target on shares of Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $63.11.

Insider Activity at Silgan

In other news, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert B. Lewis sold 20,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 152,133 shares of the company’s stock, valued at approximately $8,096,518.26. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,378 shares of company stock worth $8,034,181. 1.39% of the stock is owned by corporate insiders.

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.