Silgan Holdings Inc. (NYSE:SLGN) Shares Purchased by Versor Investments LP

Versor Investments LP increased its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 112.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,208 shares of the industrial products company’s stock after purchasing an additional 5,408 shares during the quarter. Versor Investments LP’s holdings in Silgan were worth $536,000 as of its most recent filing with the SEC.

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

Silgan Trading Up 1.1 %

Shares of Silgan stock opened at $55.13 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. The stock has a 50 day moving average of $51.64 and a 200 day moving average of $48.50. Silgan Holdings Inc. has a fifty-two week low of $40.88 and a fifty-two week high of $55.32. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 1.43 and a beta of 0.67.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the company earned $1.16 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, research analysts predict that Silgan Holdings Inc. will post 3.6 earnings per share for the current year.

Silgan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Monday, December 2nd. Silgan’s dividend payout ratio (DPR) is 27.54%.

Wall Street Analyst Weigh In

SLGN has been the subject of several recent analyst reports. StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Truist Financial reaffirmed a “buy” rating and set a $59.00 price target (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Robert W. Baird increased their price objective on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada increased their price objective on Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.43.

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.