Mercer Global Advisors Inc. ADV Boosts Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Mercer Global Advisors Inc. ADV grew its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 21.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 11,312 shares of the industrial products company’s stock after purchasing an additional 2,029 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Silgan were worth $479,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLGN. Daiwa Securities Group Inc. lifted its stake in Silgan by 0.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock worth $1,696,000 after purchasing an additional 218 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Silgan by 5.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 250 shares during the last quarter. Retirement Systems of Alabama raised its holdings in shares of Silgan by 0.3% in the first quarter. Retirement Systems of Alabama now owns 101,639 shares of the industrial products company’s stock worth $4,936,000 after buying an additional 268 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Silgan by 4.6% in the first quarter. Verdence Capital Advisors LLC now owns 7,013 shares of the industrial products company’s stock worth $341,000 after buying an additional 306 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Silgan by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 37,043 shares of the industrial products company’s stock worth $1,676,000 after acquiring an additional 360 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analysts Set New Price Targets

SLGN has been the topic of several analyst reports. Citigroup raised their price target on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. StockNews.com upgraded shares of Silgan from a “hold” rating to a “buy” rating in a report on Friday, September 20th. Robert W. Baird boosted their price target 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, Royal Bank of Canada boosted their price objective on shares of Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Silgan currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Silgan Trading Down 0.5 %

Shares of SLGN stock opened at $51.55 on Friday. Silgan Holdings Inc. has a 1-year low of $38.11 and a 1-year high of $52.84. The firm’s 50-day simple moving average is $50.10 and its 200-day simple moving average is $47.31. 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 has a market cap of $5.50 billion, a P/E ratio of 18.09, a PEG ratio of 1.49 and a beta of 0.67.

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

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors 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 currently 26.67%.

Insider Activity at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.39% of the company’s stock.

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.