Wellington Management Group LLP Sells 143,492 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Wellington Management Group LLP decreased its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,420,042 shares of the industrial products company’s stock after selling 143,492 shares during the quarter. Wellington Management Group LLP’s holdings in Silgan were worth $125,963,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new stake in shares of Silgan during the 3rd quarter worth approximately $2,975,000. BNP Paribas Financial Markets increased its stake in Silgan by 144.1% in the third quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock valued at $2,884,000 after acquiring an additional 32,432 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Silgan during the fourth quarter valued at approximately $620,000. Geode Capital Management LLC lifted its stake in Silgan by 11.7% during the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock worth $78,509,000 after purchasing an additional 157,160 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Silgan in the 4th quarter valued at $1,142,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Silgan Price Performance

SLGN stock opened at $49.60 on Friday. 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 Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. The company has a market capitalization of $5.30 billion, a P/E ratio of 19.22, a PEG ratio of 1.27 and a beta of 0.71. The company has a fifty day moving average price of $52.52 and a 200-day moving average price of $52.75.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) 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%. As a group, equities analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Increases Dividend

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

Insiders Place Their Bets

In other news, CEO Adam J. Greenlee sold 125,000 shares of Silgan 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 completion of the transaction, the chief executive officer now directly owns 227,332 shares of the company’s stock, valued at approximately $12,441,880.36. This trade represents a 35.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $1,064,400.00. Following the sale, the executive vice president now owns 152,133 shares in the company, valued at approximately $8,096,518.26. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SLGN shares. JPMorgan Chase & Co. boosted their price target on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Truist Financial reissued a “buy” rating and set a $70.00 target price (up previously from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Wells Fargo & Company lifted their price target on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Royal Bank of Canada increased their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Robert W. Baird boosted their target price on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.22.

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.