Assenagon Asset Management S.A. Acquires New Position in Silgan Holdings Inc. (NYSE:SLGN)

Assenagon Asset Management S.A. purchased a new stake in Silgan Holdings Inc. (NYSE:SLGNFree Report) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 21,947 shares of the industrial products company’s stock, valued at approximately $1,142,000.

Several other institutional investors have also modified their holdings of the business. FMR LLC lifted its stake in Silgan by 87.7% in the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock worth $329,619,000 after acquiring an additional 2,932,680 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Silgan by 1.1% during the third 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. State Street Corp raised its stake in Silgan by 0.6% in the third quarter. State Street Corp now owns 2,497,683 shares of the industrial products company’s stock valued at $131,128,000 after buying an additional 14,109 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Silgan by 11.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock worth $78,509,000 after buying an additional 157,160 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in shares of Silgan by 0.9% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,278,560 shares of the industrial products company’s stock worth $67,124,000 after acquiring an additional 11,655 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SLGN shares. Royal Bank of Canada raised their target price on Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Truist Financial raised their price objective on shares of Silgan from $63.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Bank of America upped their target price on shares of Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, StockNews.com cut shares of 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 seven have given a buy rating to the company. According to data from MarketBeat.com, Silgan presently has a consensus rating of “Moderate Buy” and an average target price of $59.75.

Read Our Latest Report on Silgan

Silgan Stock Down 0.1 %

SLGN stock opened at $52.46 on Friday. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 1.26 and a beta of 0.71. The company has a fifty day moving average price of $53.68 and a 200 day moving average price of $51.49. 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 Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14.

Silgan (NYSE:SLGNGet Free Report) last announced its 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). The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. Silgan’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 earnings per share. Sell-side analysts expect that Silgan Holdings Inc. will post 3.6 earnings per share for the current year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.19 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.45%. Silgan’s dividend payout ratio (DPR) is currently 27.54%.

Silgan Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Silgan (NYSE:SLGN)

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