Charles Schwab Investment Management Inc. Has $51.47 Million Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Charles Schwab Investment Management Inc. grew its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 9.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,006,808 shares of the industrial products company’s stock after purchasing an additional 85,157 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.94% of Silgan worth $51,468,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Silgan during the first quarter worth about $51,000. M&T Bank Corp raised its position in shares of Silgan by 6.9% during the first quarter. M&T Bank Corp now owns 18,135 shares of the industrial products company’s stock worth $927,000 after acquiring an additional 1,165 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Silgan by 13.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,903 shares of the industrial products company’s stock worth $353,000 after acquiring an additional 815 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Silgan by 1.4% during the first quarter. Janney Montgomery Scott LLC now owns 49,933 shares of the industrial products company’s stock worth $2,553,000 after acquiring an additional 695 shares during the last quarter. Finally, CX Institutional bought a new stake in Silgan in the first quarter worth approximately $42,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Stock Down 1.1%

Shares of NYSE:SLGN opened at $46.49 on Friday. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.16 and a beta of 0.69. The company has a quick ratio of 0.56, a current ratio of 0.96 and a debt-to-equity ratio of 1.40. Silgan Holdings Inc. has a 12-month low of $44.37 and a 12-month high of $58.14. The business’s 50 day moving average is $52.87 and its 200 day moving average is $52.51.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.02). The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Silgan had a net margin of 4.90% and a return on equity of 19.98%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. On average, sell-side analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. Silgan’s payout ratio is presently 28.47%.

Insider Activity

In other Silgan news, EVP Robert B. Lewis sold 10,000 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.92, for a total value of $559,200.00. Following the transaction, the executive vice president owned 153,378 shares of the company’s stock, valued at approximately $8,576,897.76. The trade was a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SLGN has been the subject of a number of research analyst reports. Citigroup lifted their target price on Silgan from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. upgraded Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 target price for the company in a report on Thursday, May 1st. Truist Financial lifted their target price on Silgan from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Royal Bank Of Canada decreased their price objective on Silgan from $64.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, August 1st. Finally, Bank of America restated a “neutral” rating and set a $59.00 price objective (up previously from $57.00) on shares of Silgan in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $62.44.

Silgan 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.