Silgan Holdings Inc. (NYSE:SLGN) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC raised its stake in Silgan Holdings Inc. (NYSE:SLGN) by 220.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,400 shares of the industrial products company’s stock after acquiring an additional 963 shares during the quarter. Venturi Wealth Management LLC’s holdings in Silgan were worth $74,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted 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 grew its stake in shares of 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 buying an additional 1,107 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Silgan by 109.9% during the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 613 shares during the period. Covestor Ltd increased its stake 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 purchased a new stake in shares of Silgan during the second quarter worth about $70,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Robert W. Baird boosted their target price on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Truist Financial reaffirmed a “buy” rating and set a $59.00 target price (up previously from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Royal Bank of Canada raised their target price on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company lifted their price target on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan Stock Down 2.2 %

Shares of NYSE:SLGN opened at $53.93 on Friday. Silgan Holdings Inc. has a 52 week low of $40.88 and a 52 week high of $55.32. 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 company has a market cap of $5.76 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The firm has a 50 day simple moving average of $51.72 and a 200 day simple moving average of $48.54.

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

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Monday, December 2nd. Silgan’s dividend payout ratio is currently 27.54%.

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.