Natixis Advisors LLC Purchases 1,570 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Natixis Advisors LLC increased its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 3.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 44,999 shares of the industrial products company’s stock after buying an additional 1,570 shares during the period. Natixis Advisors LLC’s holdings in Silgan were worth $1,905,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. TFO Wealth Partners LLC raised its stake in Silgan by 10,540.0% during the fourth quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock worth $226,000 after buying an additional 527 shares during the last quarter. Blue Trust Inc. increased its stake in Silgan by 256.6% in the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 426 shares in the last quarter. Principal Securities Inc. bought a new stake in Silgan in the fourth quarter valued at $30,000. Covestor Ltd increased its stake in Silgan by 69.7% in the first 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. Finally, Versant Capital Management Inc increased its stake in Silgan by 2,838.5% in the second 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. Institutional investors own 70.25% of the company’s stock.

Insider Buying and Selling at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the transaction, the vice president now directly owns 11,495 shares in the company, valued at $563,714.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.39% of the company’s stock.

Silgan Stock Down 1.0 %

Silgan stock opened at $49.95 on Tuesday. Silgan Holdings Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $52.84. The stock has a market cap of $5.33 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.47 and a beta of 0.67. The firm’s 50-day simple moving average is $48.01 and its 200 day simple moving average is $46.65. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 earnings per share. Research analysts predict that Silgan Holdings Inc. will post 3.66 EPS for the current fiscal year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Tuesday, September 3rd. Silgan’s payout ratio is 26.67%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SLGN. Wells Fargo & Company lifted their price target on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada lifted their price target on shares of Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. StockNews.com raised shares of Silgan from a “hold” rating to a “buy” rating in a research note on Friday. Truist Financial reiterated a “buy” rating and set a $59.00 price objective (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $46.00 to $53.00 in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Silgan currently has an average rating of “Moderate Buy” and an average price target of $57.00.

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.