Park Avenue Securities LLC Makes New Investment in Silgan Holdings Inc. (NYSE:SLGN)

Park Avenue Securities LLC bought a new position in Silgan Holdings Inc. (NYSE:SLGNGet Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,017 shares of the industrial products company’s stock, valued at approximately $211,000.

Other large investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its holdings in Silgan by 58.8% in the second quarter. Quadrant Capital Group LLC now owns 629 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 233 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Silgan during the third quarter valued at approximately $29,000. Eagle Bay Advisors LLC raised its holdings in shares of Silgan by 151.1% during the second quarter. Eagle Bay Advisors LLC now owns 836 shares of the industrial products company’s stock valued at $35,000 after buying an additional 503 shares during the last quarter. Pinebridge Investments L.P. raised its holdings in shares of Silgan by 439.0% during the second quarter. Pinebridge Investments L.P. now owns 1,078 shares of the industrial products company’s stock valued at $45,000 after buying an additional 878 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Silgan by 30.8% during the second quarter. Meeder Asset Management Inc. now owns 2,086 shares of the industrial products company’s stock valued at $86,000 after buying an additional 491 shares during the last quarter. Institutional investors own 68.21% of the company’s stock.

Silgan Price Performance

Shares of NYSE:SLGN opened at $50.79 on Wednesday. Silgan Holdings Inc. has a 12 month low of $38.59 and a 12 month high of $54.59. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 2.66 and a beta of 0.81. The stock’s 50 day moving average price is $52.26 and its 200 day moving average price is $47.79. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.39 and a quick ratio of 0.88.

Silgan (NYSE:SLGNGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.05. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.85 billion. Silgan had a net margin of 6.27% and a return on equity of 26.81%. Equities research analysts anticipate that Silgan Holdings Inc. will post 3.96 earnings per share for the current fiscal year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were given a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.64 annualized dividend and a yield of 1.26%. Silgan’s dividend payout ratio (DPR) is 17.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their price target on Silgan from $54.00 to $56.00 in a report on Thursday, October 13th. StockNews.com assumed coverage on Silgan in a report on Wednesday, October 12th. They set a “hold” rating on the stock. KeyCorp lifted their price target on Silgan from $49.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, December 15th. Wells Fargo & Company lifted their price target on Silgan from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Monday, January 9th. Finally, Citigroup boosted their target price on Silgan from $49.00 to $53.00 in a report on Wednesday, January 4th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Silgan Profile

(Get Rating)

Silgan Holdings, Inc engages in the manufacture and sale of rigid packaging for consumer goods products. It operates through the following business segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers dispensing and specialty closures for food, beverage, health care, garden, home, personal care, fragrance, and beauty products.

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Institutional Ownership by Quarter for Silgan (NYSE:SLGN)

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