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STAMFORD, CT—Anthony J. Allott, a director at Silgan Holdings Inc. (NYSE:SLGN), has recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Allott sold 98,394 shares of common stock on November 18, 2024. The shares were sold at an average price of $53.91, totaling approximately $5.3 million.
Following this transaction, Allott retains ownership of 456,812 shares in the company. This figure includes 19,360 restricted stock units that have yet to vest, which will convert to common stock on a one-for-one basis upon vesting.
Silgan Holdings, based in Stamford, Connecticut, is a leading manufacturer of metal cans and other packaging solutions.
In other recent news, Silgan Holdings Inc. reported a mixed third-quarter performance in 2024. Despite a 3% decline in net sales to approximately $1.8 million, primarily due to lower raw material costs and softer pack volumes in the Metal Containers segment, the company experienced a 4% increase in adjusted net income per diluted share to $1.21. Silgan's CEO, Adam Greenlee, highlighted the successful integration of Weener Packaging (NYSE:PKG), which is expected to enhance the company's dispensing solutions.
Looking into 2025, Silgan anticipates significant earnings growth, with double-digit EPS growth and improved pack volumes. The company also forecasts Q4 2024 earnings per share between $0.70 and $0.88, and full-year adjusted net income per diluted share estimated between $3.55 and $3.65.
Furthermore, Silgan expects growth in Dispensing and Specialty Closures, projecting mid-single-digit growth for 2025. The Custom Containers segment is also predicted to see low single-digit growth, supported by new business wins. However, a decline in Metal Containers pack volumes is anticipated due to adverse weather and customer adjustments. These are among the recent developments for Silgan Holdings Inc.
InvestingPro Insights
To provide additional context to Anthony J. Allott's recent stock sale, it's worth examining some key financial metrics and insights from InvestingPro for Silgan Holdings Inc. (NYSE:SLGN).
As of the latest data, Silgan Holdings has a market capitalization of $5.8 billion, reflecting its significant presence in the packaging industry. The company's P/E ratio stands at 19.64, which is relatively high compared to its near-term earnings growth, as noted in one of the InvestingPro Tips.
Notably, Silgan Holdings has demonstrated a strong commitment to shareholder returns. An InvestingPro Tip highlights that the company has raised its dividend for 21 consecutive years, showcasing a reliable track record of increasing shareholder value. This consistent dividend growth may be particularly appealing to income-focused investors.
The company's financial performance has been solid, with a revenue of $5.78 billion over the last twelve months as of Q3 2024. While there has been a slight revenue decline of 5.24% during this period, Silgan maintains a healthy gross profit margin of 17.14% and an operating income margin of 10.03%.
Investors considering Silgan Holdings should note that the stock is currently trading near its 52-week high, with a robust year-to-date price total return of 21.22%. This performance, coupled with the company's dividend history, aligns with the InvestingPro Tip suggesting that Silgan generally trades with low price volatility.
For those interested in a deeper analysis, InvestingPro offers 10 additional tips for Silgan Holdings, providing a more comprehensive view of the company's financial health and market position.
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