Aristides Capital LLC Takes Position in Silgan Holdings Inc. (NYSE:SLGN)

Aristides Capital LLC purchased a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 5,520 shares of the industrial products company’s stock, valued at approximately $234,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in shares of Silgan by 256.6% during the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 426 shares during the last quarter. Versant Capital Management Inc increased its holdings in Silgan by 2,838.5% in the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 1,107 shares during the period. GAMMA Investing LLC raised its position in Silgan by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 613 shares during the last quarter. Covestor Ltd lifted its holdings in Silgan by 69.7% during the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after buying an additional 462 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Silgan in the 2nd quarter valued at about $70,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the company’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 completion of the sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.39% of the stock is currently owned by corporate insiders.

Silgan Stock Performance

Shares of SLGN stock opened at $52.50 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. The firm has a fifty day simple moving average of $50.24 and a two-hundred day simple moving average of $47.39. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $52.84. The firm has a market capitalization of $5.61 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.49 and a beta of 0.67.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, topping 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 period in the previous year, the firm posted $0.83 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts forecast 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. Investors of record on Tuesday, September 3rd were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.45%. Silgan’s payout ratio is 26.67%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SLGN. Citigroup raised their price objective on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price target on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of Silgan from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. Robert W. Baird boosted their target price on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada lifted their price objective on 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 assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.