Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Royce & Associates LP

Royce & Associates LP cut its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 0.6% during the third quarter, HoldingsChannel.com reports. The firm owned 494,058 shares of the industrial products company’s stock after selling 2,890 shares during the period. Royce & Associates LP’s holdings in Silgan were worth $25,938,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. boosted its position in shares of Silgan by 256.6% in the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after buying an additional 426 shares in the last quarter. Covestor Ltd lifted its holdings in Silgan by 69.7% in the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 462 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Silgan by 2,838.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 1,107 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Silgan by 109.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 613 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 963 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Price Performance

SLGN opened at $53.55 on Friday. Silgan Holdings Inc. has a 1 year low of $40.88 and a 1 year high of $55.32. The company’s 50 day simple moving average is $51.78 and its 200 day simple moving average is $48.58. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. The stock has a market capitalization of $5.72 billion, a PE ratio of 19.40, a P/E/G ratio of 1.44 and a beta of 0.67.

Silgan (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts expect that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.42%. Silgan’s payout ratio is 27.54%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SLGN. Wells Fargo & Company upped their target price on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and upped their target price for the company from $46.00 to $53.00 in a report on Thursday, August 1st. Robert W. Baird increased their price objective on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Truist Financial reissued a “buy” rating and issued a $59.00 target price (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Finally, Royal Bank of Canada raised their target price on shares of Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Silgan currently has a consensus rating of “Moderate Buy” and an average target price of $57.43.

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.