Silgan Holdings Inc. (NYSE:SLGN) Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 1.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 333,211 shares of the industrial products company’s stock after buying an additional 4,775 shares during the quarter. Sei Investments Co.’s holdings in Silgan were worth $14,105,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Inspire Investing LLC raised its holdings in shares of Silgan by 12.2% in the second quarter. Inspire Investing LLC now owns 8,286 shares of the industrial products company’s stock worth $351,000 after acquiring an additional 902 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Silgan by 2.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 267 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Silgan by 21.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,312 shares of the industrial products company’s stock valued at $479,000 after purchasing an additional 2,029 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Silgan in the 2nd quarter valued at about $1,433,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Silgan by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock worth $125,404,000 after purchasing an additional 204,384 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Insider Transactions at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’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 directly owns 11,495 shares in the company, valued at approximately $563,714.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SLGN shares. Royal Bank of Canada boosted their price target on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company upped 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. Truist Financial reissued 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. Robert W. Baird increased 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. Finally, Citigroup boosted their target price on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Silgan Stock Up 1.9 %

Shares of NYSE:SLGN opened at $51.79 on Friday. Silgan Holdings Inc. has a 1 year low of $38.11 and a 1 year high of $52.84. The stock has a 50-day simple moving average of $49.98 and a 200-day simple moving average of $47.24. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06. The stock has a market capitalization of $5.53 billion, a P/E ratio of 18.17, a PEG ratio of 1.49 and a beta of 0.67.

Silgan (NYSE:SLGN) last released its quarterly earnings data 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 company had revenue of $1.38 billion during 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 business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 earnings per share. Equities 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 paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Tuesday, September 3rd. Silgan’s dividend payout ratio is presently 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.