Silgan Holdings Inc. (NYSE:SLGN) Stock Position Lifted by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in Silgan Holdings Inc. (NYSE:SLGN) by 7.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,962,414 shares of the industrial products company’s stock after acquiring an additional 204,384 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Silgan were worth $125,404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SLGN. GHP Investment Advisors Inc. increased its position in Silgan by 1.4% in the second quarter. GHP Investment Advisors Inc. now owns 120,923 shares of the industrial products company’s stock worth $5,119,000 after buying an additional 1,613 shares during the period. Meeder Asset Management Inc. bought a new stake in Silgan in the 2nd quarter valued at about $104,000. Robeco Schweiz AG lifted its position in Silgan by 13.4% in the 2nd quarter. Robeco Schweiz AG now owns 152,213 shares of the industrial products company’s stock valued at $6,443,000 after purchasing an additional 18,000 shares during the last quarter. AdvisorShares Investments LLC boosted its stake in Silgan by 7.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 127,370 shares of the industrial products company’s stock valued at $5,332,000 after purchasing an additional 8,749 shares during the period. Finally, Headlands Technologies LLC bought a new position in Silgan in the 2nd quarter worth about $70,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the sale, the vice president now directly owns 11,495 shares of the company’s stock, valued at $563,714.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.39% of the stock is currently owned by corporate insiders.

Silgan Stock Performance

Shares of SLGN opened at $51.37 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64. The firm’s 50 day moving average is $49.52 and its 200-day moving average is $47.08. Silgan Holdings Inc. has a 12-month low of $38.11 and a 12-month high of $52.84. The stock has a market capitalization of $5.49 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.49 and a beta of 0.67.

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

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Tuesday, September 3rd. Silgan’s dividend payout ratio is 26.67%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Citigroup upped their price objective on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and raised their target price for the company from $46.00 to $53.00 in a research note on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and issued a $59.00 price target (up from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Finally, Robert W. Baird raised their price objective on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.