Some Silgan Holdings Inc. (NYSE:SLGN) shareholders may be a little concerned to see that the Non-Executive Chairman, Anthony Allott, recently sold a substantial US$3.4m worth of stock at a price of US$41.97 per share. That sale reduced their total holding by 14% which is hardly insignificant, but far from the worst we've seen.
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The Last 12 Months Of Insider Transactions At Silgan Holdings
In fact, the recent sale by Non-Executive Chairman Anthony Allott was not their only sale of Silgan Holdings shares this year. They previously made an even bigger sale of -US$3.7m worth of shares at a price of US$54.50 per share. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. The silver lining is that this sell-down took place above the latest price (US$42.16). So it may not shed much light on insider confidence at current levels.
Silgan Holdings insiders didn't buy any shares over the last year. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
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Insider Ownership
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It's great to see that Silgan Holdings insiders own 24% of the company, worth about US$1.1b. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.
So What Does This Data Suggest About Silgan Holdings Insiders?
Insiders haven't bought Silgan Holdings stock in the last three months, but there was some selling. And even if we look at the last year, we didn't see any purchases. While insiders do own a lot of shares in the company (which is good), our analysis of their transactions doesn't make us feel confident about the company. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. For instance, we've identified 3 warning signs for Silgan Holdings (1 can't be ignored) you should be aware of.
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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.