Inspire Investing LLC Decreases Stake in Silgan Holdings Inc. (NYSE:SLGN)

Inspire Investing LLC decreased its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 5.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,861 shares of the industrial products company’s stock after selling 425 shares during the quarter. Inspire Investing LLC’s holdings in Silgan were worth $413,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Daiwa Securities Group Inc. increased its position in shares of Silgan by 0.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock valued at $1,696,000 after acquiring an additional 218 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Silgan by 5.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock worth $218,000 after purchasing an additional 250 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Silgan by 2.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 267 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Silgan by 0.3% during the first quarter. Retirement Systems of Alabama now owns 101,639 shares of the industrial products company’s stock worth $4,936,000 after purchasing an additional 268 shares during the period. Finally, AQR Capital Management LLC boosted its position in Silgan by 1.1% in the second quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock valued at $1,594,000 after buying an additional 421 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Insider Activity

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the transaction, the vice president now directly owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.39% of the company’s stock.

Silgan Price Performance

Shares of Silgan stock opened at $51.55 on Thursday. The firm has a market cap of $5.50 billion, a PE ratio of 18.09, a P/E/G ratio of 1.48 and a beta of 0.67. The business has a 50-day moving average price of $50.85 and a 200 day moving average price of $47.84. 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 twelve month low of $38.11 and a twelve month high of $52.84.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the business earned $0.83 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. Sell-side analysts predict that Silgan Holdings Inc. will post 3.66 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.47%. The ex-dividend date was Tuesday, September 3rd. Silgan’s payout ratio is 26.67%.

Analysts Set New Price Targets

Several analysts have commented on SLGN shares. Royal Bank of Canada lifted their price objective on shares of Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their target price on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Robert W. Baird upped their target price on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Citigroup raised 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. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

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.