Handelsbanken Fonder AB Purchases 6,500 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Handelsbanken Fonder AB lifted its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 31.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,288 shares of the industrial products company’s stock after purchasing an additional 6,500 shares during the period. Handelsbanken Fonder AB’s holdings in Silgan were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SLGN. Janus Henderson Group PLC boosted its position in Silgan by 95.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock worth $59,462,000 after buying an additional 598,472 shares during the period. Deprince Race & Zollo Inc. bought a new position in shares of Silgan during the second quarter valued at $19,666,000. Boston Trust Walden Corp lifted its holdings in shares of Silgan by 20.6% during the second quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock worth $79,776,000 after purchasing an additional 322,511 shares during the period. Wellington Management Group LLP grew its stake in shares of Silgan by 5.8% in the fourth quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock worth $202,123,000 after purchasing an additional 246,813 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 204,384 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Analysts Set New Price Targets

SLGN has been the topic of several recent research reports. Citigroup lifted their target price on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a report on Wednesday. Truist Financial reissued a “buy” rating and set a $59.00 target price (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price target on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada increased their price objective on shares of Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Insider Buying and Selling

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.39% of the stock is owned by company insiders.

Silgan Price Performance

Silgan stock opened at $50.86 on Friday. The stock’s 50 day moving average price is $50.67 and its two-hundred day moving average price is $47.71. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 1.50 and a beta of 0.67. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06. Silgan Holdings Inc. has a 52-week low of $38.11 and a 52-week high of $52.84.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. Silgan’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts predict that Silgan Holdings Inc. will post 3.66 earnings per share for the current year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, September 3rd. Silgan’s payout ratio is 26.67%.

Silgan Company 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.