ProShare Advisors LLC Sells 31,555 Shares of Silgan Holdings Inc. (NYSE:SLGN)

ProShare Advisors LLC lowered its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 683,964 shares of the industrial products company’s stock after selling 31,555 shares during the period. ProShare Advisors LLC’s holdings in Silgan were worth $33,213,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. bought a new stake in Silgan in the 4th quarter worth approximately $30,000. Quent Capital LLC grew its position in Silgan by 94.9% in the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 505 shares during the period. Blue Trust Inc. grew its position in Silgan by 4,440.4% in the 4th quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 2,087 shares during the period. Central Pacific Bank Trust Division bought a new stake in Silgan in the 1st quarter worth approximately $194,000. Finally, TFO Wealth Partners LLC grew its position in Silgan by 10,540.0% in the 4th quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 527 shares during the period. Institutional investors own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SLGN shares. Citigroup raised shares of Silgan from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Monday, July 8th. Wells Fargo & Company cut their price objective on shares of Silgan from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Insiders Place Their Bets

In other news, VP B Frederik Prinzen sold 4,093 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $47.84, for a total value of $195,809.12. Following the sale, the vice president now directly owns 4,520 shares in the company, valued at approximately $216,236.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP B Frederik Prinzen sold 4,093 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $47.84, for a total value of $195,809.12. Following the sale, the vice president now directly owns 4,520 shares in the company, valued at approximately $216,236.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jay A. Martin sold 21,330 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $46.73, for a total transaction of $996,750.90. Following the completion of the sale, the senior vice president now owns 165,989 shares in the company, valued at $7,756,665.97. The disclosure for this sale can be found here. Insiders have sold a total of 59,651 shares of company stock worth $2,804,226 in the last 90 days. 1.39% of the stock is currently owned by corporate insiders.

Silgan Price Performance

Shares of SLGN traded up $0.14 during trading hours on Wednesday, reaching $45.76. 502,917 shares of the stock traded hands, compared to its average volume of 575,418. The company has a market cap of $4.89 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.50 and a beta of 0.67. Silgan Holdings Inc. has a 52-week low of $38.11 and a 52-week high of $49.72. The company has a current ratio of 1.04, a quick ratio of 0.62 and a debt-to-equity ratio of 1.33. The company’s 50-day moving average price is $45.04 and its two-hundred day moving average price is $45.22.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. On average, analysts anticipate that Silgan Holdings Inc. will post 3.66 earnings per share for the current year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Monday, June 3rd. Silgan’s payout ratio is currently 26.67%.

About Silgan

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.