Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 51.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,777 shares of the industrial products company’s stock after purchasing an additional 606 shares during the period. GAMMA Investing LLC’s holdings in Silgan were worth $93,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of Silgan by 256.6% during the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 426 shares during the period. Covestor Ltd increased its holdings in shares of Silgan by 69.7% during the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 462 shares during the period. Versant Capital Management Inc boosted its stake in Silgan by 2,838.5% during the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after buying an additional 1,107 shares in the last quarter. Headlands Technologies LLC bought a new position in Silgan during the second quarter valued at about $70,000. Finally, Meeder Asset Management Inc. bought a new position in Silgan during the second quarter valued at about $104,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction dated 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 directly owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.39% of the company’s stock.

Silgan Trading Up 0.6 %

NYSE:SLGN opened at $51.90 on Tuesday. The stock has a fifty day simple moving average of $50.75 and a 200 day simple moving average of $47.79. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.48 and a beta of 0.67. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31. Silgan Holdings Inc. has a 1-year low of $38.11 and a 1-year high of $52.84.

Silgan (NYSE:SLGN) last announced its quarterly earnings data 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. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. 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 business earned $0.83 EPS. Sell-side analysts forecast that Silgan Holdings Inc. will post 3.66 earnings per share for the current year.

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, September 3rd. Silgan’s dividend payout ratio is currently 26.67%.

Analyst Ratings Changes

SLGN has been the subject of several research reports. Robert W. Baird raised their target price on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Citigroup raised their target price on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and raised their target price for the company from $46.00 to $53.00 in a research note on Thursday, August 1st. Royal Bank of Canada raised their target price on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $59.00 price target (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.00.

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.