Assenagon Asset Management S.A. purchased a new stake in Silgan Holdings Inc. (NYSE:SLGN – Free 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.
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:SLGN – Get 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
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.
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