Alaska Permanent Fund Corp Reduces Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Alaska Permanent Fund Corp reduced its stake in Silgan Holdings Inc. (NYSE:SLGN) by 51.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,437 shares of the industrial products company’s stock after selling 3,707 shares during the period. Alaska Permanent Fund Corp’s holdings in Silgan were worth $156,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLGN. Wellington Management Group LLP grew its holdings in shares of Silgan by 43.0% in the third quarter. Wellington Management Group LLP now owns 4,220,003 shares of the industrial products company’s stock worth $181,924,000 after purchasing an additional 1,269,349 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Silgan by 20.9% during the third quarter. JPMorgan Chase & Co. now owns 6,053,086 shares of the industrial products company’s stock valued at $260,949,000 after acquiring an additional 1,047,558 shares during the last quarter. Bernzott Capital Advisors purchased a new stake in shares of Silgan during the third quarter worth about $6,795,000. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Silgan by 9.9% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,269,176 shares of the industrial products company’s stock worth $54,714,000 after purchasing an additional 114,849 shares during the period. Finally, New York State Common Retirement Fund grew its stake in shares of Silgan by 119.5% in the third quarter. New York State Common Retirement Fund now owns 157,920 shares of the industrial products company’s stock worth $6,808,000 after purchasing an additional 85,977 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Silgan Price Performance

Shares of SLGN opened at $47.00 on Friday. The firm’s 50-day simple moving average is $45.94 and its two-hundred day simple moving average is $43.98. Silgan Holdings Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $50.18. The stock has a market cap of $5.02 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 2.56 and a beta of 0.68. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.61 and a current ratio of 1.02.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Silgan had a return on equity of 20.29% and a net margin of 5.44%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.39 billion. Analysts anticipate that Silgan Holdings Inc. will post 3.67 earnings per share for the current fiscal year.

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.62%. This is an increase from Silgan’s previous quarterly dividend of $0.18. Silgan’s dividend payout ratio (DPR) is 25.50%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their price objective on Silgan from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Royal Bank of Canada upped their price objective on shares of Silgan from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Citigroup boosted their price target on shares of Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Truist Financial raised their price objective on shares of Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.13.

Insider Buying and Selling

In other Silgan news, VP B Frederik Prinzen sold 4,684 shares of Silgan stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $205,580.76. Following the completion of the sale, the vice president now owns 8,613 shares of the company’s stock, valued at approximately $378,024.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.08% of the stock is owned by company 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.