Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC increased its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,430 shares of the industrial products company’s stock after buying an additional 388 shares during the period. Verdence Capital Advisors LLC’s holdings in Silgan were worth $390,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SLGN. Daiwa Securities Group Inc. raised its holdings in shares of Silgan by 0.5% in the second quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock worth $1,696,000 after acquiring an additional 218 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Silgan by 5.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 250 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Silgan by 2.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock valued at $453,000 after purchasing an additional 267 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Silgan by 1.1% during the 2nd quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock worth $1,594,000 after purchasing an additional 421 shares during the last quarter. Finally, Blue Trust Inc. grew 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 worth $25,000 after buying an additional 426 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLGN has been the topic of a number of analyst reports. Wells Fargo & Company raised their target price 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. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Citigroup increased their price objective on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird boosted their target price on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada upped their price target on shares of Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Silgan currently has an average rating of “Moderate Buy” and a consensus target price of $57.43.

Silgan Trading Up 0.8 %

Shares of SLGN stock opened at $54.07 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.52 and a debt-to-equity ratio of 1.31. Silgan Holdings Inc. has a fifty-two week low of $40.01 and a fifty-two week high of $55.24. The firm’s 50 day moving average price is $51.50 and its two-hundred day moving average price is $48.40. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.40 and a beta of 0.67.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the firm posted $1.16 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. On average, analysts anticipate that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.41%. Silgan’s dividend payout ratio (DPR) is currently 27.54%.

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.