Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 32.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,182 shares of the industrial products company’s stock after purchasing an additional 1,747 shares during the period. Sanctuary Advisors LLC’s holdings in Silgan were worth $406,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased 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 valued at $125,404,000 after buying an additional 204,384 shares in the last quarter. Choreo LLC acquired a new stake in shares of Silgan during the second quarter worth $498,000. Nicola Wealth Management LTD. lifted its holdings in shares of Silgan by 24.4% during the third quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock valued at $5,087,000 after purchasing an additional 19,000 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Silgan by 144.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock valued at $2,884,000 after purchasing an additional 32,432 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Silgan by 1.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock worth $137,047,000 after purchasing an additional 29,565 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

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 report on Wednesday, October 9th. Royal Bank of Canada raised their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Silgan currently has a consensus rating of “Moderate Buy” and an average price target of $58.14.

Silgan Stock Performance

SLGN stock opened at $52.87 on Friday. The firm has a 50 day simple moving average of $54.00 and a 200 day simple moving average of $50.27. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The stock has a market cap of $5.65 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.44 and a beta of 0.69. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09.

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

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.44%. The ex-dividend date was Monday, December 2nd. Silgan’s 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.