AGF Management Ltd. Sells 814 Shares of Silgan Holdings Inc. (NYSE:SLGN)

AGF Management Ltd. reduced its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,185 shares of the industrial products company’s stock after selling 814 shares during the quarter. AGF Management Ltd.’s holdings in Silgan were worth $2,124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLGN. Norges Bank bought a new position in shares of Silgan during the 4th quarter worth approximately $41,921,000. Janus Henderson Group PLC boosted its stake in Silgan by 95.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock valued at $59,462,000 after purchasing an additional 598,472 shares during the period. Boston Trust Walden Corp boosted its stake in Silgan by 20.6% in the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock valued at $79,776,000 after purchasing an additional 322,511 shares during the period. Wellington Management Group LLP boosted its stake in Silgan by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock valued at $202,123,000 after purchasing an additional 246,813 shares during the period. Finally, SG Capital Management LLC bought a new stake in Silgan in the 1st quarter valued at $8,584,000. 70.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research note on Saturday. Robert W. Baird boosted their price target on 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 set a $59.00 price target (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. Citigroup upped their target price on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada upped their target price on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Silgan Trading Up 1.1 %

NYSE SLGN opened at $50.53 on Friday. The business’s 50-day moving average price is $48.67 and its two-hundred day moving average price is $46.78. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $52.84. The firm has a market capitalization of $5.40 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.44 and a beta of 0.67. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the company earned $0.83 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts expect that Silgan Holdings Inc. will post 3.66 EPS for the current year.

Silgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.50%. Silgan’s payout ratio is 26.67%.

Insider Activity at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.39% of the stock is owned by corporate insiders.

About Silgan

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.