ProShare Advisors LLC Has $34.16 Million Stake in Silgan Holdings Inc. (NYSE:SLGN)

ProShare Advisors LLC reduced its stake in Silgan Holdings Inc. (NYSE:SLGN) by 4.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 656,286 shares of the industrial products company’s stock after selling 32,614 shares during the quarter. ProShare Advisors LLC owned approximately 0.61% of Silgan worth $34,160,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLGN. Millennium Management LLC lifted its holdings in Silgan by 764.7% in the 4th quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company’s stock worth $52,708,000 after purchasing an additional 895,528 shares during the last quarter. FMR LLC increased its position in Silgan by 12.2% in the 4th quarter. FMR LLC now owns 7,046,400 shares of the industrial products company’s stock worth $366,765,000 after buying an additional 767,944 shares during the period. Norges Bank acquired a new position in shares of Silgan during the fourth quarter worth approximately $38,680,000. JPMorgan Chase & Co. lifted its holdings in shares of Silgan by 12.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company’s stock worth $301,670,000 after buying an additional 656,923 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Silgan by 87.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,253,727 shares of the industrial products company’s stock valued at $65,257,000 after acquiring an additional 584,840 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Silgan Stock Performance

SLGN opened at $54.85 on Friday. The stock has a market cap of $5.87 billion, a PE ratio of 21.26, a P/E/G ratio of 1.27 and a beta of 0.74. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The stock’s 50 day simple moving average is $50.70 and its 200-day simple moving average is $52.64.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the business posted $0.69 earnings per share. Silgan’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, June 2nd. Silgan’s dividend payout ratio (DPR) is 29.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SLGN shares. Citigroup upped their target price on shares of Silgan from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Royal Bank of Canada upped their target price 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. Wells Fargo & Company upped their target price on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Robert W. Baird upped their target price on shares of Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Raymond James upgraded shares of Silgan from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $63.11.

Insider Buying and Selling at Silgan

In other Silgan news, VP B Frederik Prinzen sold 2,378 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total value of $128,530.90. Following the transaction, the vice president now owns 1,380 shares of the company’s stock, valued at approximately $74,589. The trade was a 63.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 227,332 shares in the company, valued at approximately $12,441,880.36. This represents a 35.48% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

Silgan Company 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.