Deprince Race & Zollo Inc. Acquires New Shares in Silgan Holdings Inc. (NYSE:SLGN)

Deprince Race & Zollo Inc. bought a new position in Silgan Holdings Inc. (NYSE:SLGN) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 464,580 shares of the industrial products company’s stock, valued at approximately $19,666,000.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Silgan by 5.8% during the fourth quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock valued at $202,123,000 after buying an additional 246,813 shares during the period. Dimensional Fund Advisors LP raised its stake in Silgan by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock valued at $125,404,000 after purchasing an additional 204,384 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Silgan by 6.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company’s stock worth $109,248,000 after buying an additional 163,853 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Silgan by 20.6% during the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock worth $79,776,000 after acquiring an additional 322,511 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Silgan by 2.3% in the fourth quarter. First Trust Advisors LP now owns 1,844,260 shares of the industrial products company’s stock worth $83,453,000 after acquiring an additional 41,763 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Insider Activity at Silgan

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the sale, the vice president now directly 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 accessible through the SEC website. 1.39% of the stock is currently owned by corporate insiders.

Silgan Price Performance

Shares of Silgan stock opened at $51.79 on Friday. The company has a market cap of $5.53 billion, a PE ratio of 18.17, a P/E/G ratio of 1.49 and a beta of 0.67. The business has a 50 day moving average of $49.98 and a 200 day moving average of $47.24. Silgan Holdings Inc. has a 52 week low of $38.11 and a 52 week high of $52.84. The company has a quick ratio of 0.64, a current ratio of 1.06 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.47%. Silgan’s payout ratio is 26.67%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Truist Financial reissued 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. Wells Fargo & Company boosted their price objective on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and increased their target price for the company from $46.00 to $53.00 in a report 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. Finally, Royal Bank of Canada raised their price objective on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Silgan 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.