SG Americas Securities LLC Has $764,000 Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

SG Americas Securities LLC boosted its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 16.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,558 shares of the industrial products company’s stock after acquiring an additional 2,061 shares during the quarter. SG Americas Securities LLC’s holdings in Silgan were worth $764,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Silgan by 5.8% in 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 purchasing an additional 246,813 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 worth $125,404,000 after acquiring an additional 204,384 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings 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 valued at $109,248,000 after buying an additional 163,853 shares during the last quarter. Boston Trust Walden Corp increased its position in 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 valued at $79,776,000 after purchasing an additional 322,511 shares during the period. Finally, Janus Henderson Group PLC increased its position in Silgan by 95.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock valued at $59,462,000 after purchasing an additional 598,472 shares during the period. Institutional investors own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price objective 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 set a $59.00 price objective (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Citigroup upped their price target on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Insiders Place Their Bets

In other 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 transaction of $78,464.00. Following the sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.39% of the stock is owned by company insiders.

Silgan Stock Performance

NYSE SLGN opened at $51.57 on Friday. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.48 and a beta of 0.67. Silgan Holdings Inc. has a twelve month low of $38.11 and a twelve month high of $52.84. 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 stock has a 50-day moving average of $50.68 and a 200 day moving average of $47.76.

Silgan (NYSE:SLGN) last posted its quarterly earnings results 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. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 earnings per share. Sell-side analysts anticipate 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 issued a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.47%. Silgan’s dividend payout ratio (DPR) 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.