State of New Jersey Common Pension Fund D Sells 19,756 Shares of Silgan Holdings Inc. (NYSE:SLGN)

State of New Jersey Common Pension Fund D trimmed its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 32.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,266 shares of the industrial products company’s stock after selling 19,756 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Silgan were worth $1,747,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Securities Inc. bought a new position in shares of Silgan in the fourth quarter valued at approximately $30,000. Norges Bank bought a new position in Silgan in the 4th quarter valued at $41,921,000. Treasurer of the State of North Carolina grew its position in shares of Silgan by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 37,043 shares of the industrial products company’s stock valued at $1,676,000 after purchasing an additional 360 shares in the last quarter. TFO Wealth Partners LLC increased its holdings in shares of Silgan by 10,540.0% in the fourth quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 527 shares during the period. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Silgan in the fourth quarter worth $3,925,000. Institutional investors own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLGN. Truist Financial restated a “buy” rating and issued a $59.00 target price (up from $56.00) on shares of Silgan 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, September 20th. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Citigroup increased their price target on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Robert W. Baird lifted 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. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Silgan currently has an average rating of “Moderate Buy” and an average price target of $57.00.

Insider Activity

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the sale, the vice president now owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.39% of the company’s stock.

Silgan Trading Down 0.2 %

Shares of SLGN opened at $51.21 on Wednesday. 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 Holdings Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $52.84. The firm has a 50 day moving average price of $49.76 and a 200-day moving average price of $47.19. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 1.49 and a beta of 0.67.

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

Silgan Announces Dividend

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

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.