Silgan Holdings Inc. (NYSE:SLGN) Stake Boosted by State Street Corp

State Street Corp raised its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,497,683 shares of the industrial products company’s stock after purchasing an additional 14,109 shares during the period. State Street Corp owned about 2.34% of Silgan worth $131,128,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in shares of Silgan by 256.6% during the 2nd 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 period. Headlands Technologies LLC bought a new stake in Silgan in the second quarter valued at $70,000. Venturi Wealth Management LLC boosted its holdings in shares of Silgan by 220.4% during the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 963 shares during the period. GAMMA Investing LLC grew its position in shares of Silgan by 51.8% during the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock worth $93,000 after acquiring an additional 606 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Silgan in the 2nd quarter worth about $104,000. Institutional investors own 70.25% of the company’s stock.

Silgan Price Performance

Shares of NYSE:SLGN opened at $54.82 on Friday. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.44 and a beta of 0.69. The stock’s 50 day moving average price is $53.72 and its 200 day moving average price is $49.88. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75.

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 analyst estimates of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. Equities research analysts anticipate that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.19 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.39%. Silgan’s dividend payout ratio is currently 27.54%.

Analyst Ratings Changes

SLGN has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on shares of Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Silgan has an average rating of “Moderate Buy” and a consensus target price of $57.43.

Silgan 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.