Seven Eight Capital LP Lowers Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Seven Eight Capital LP trimmed its stake in Silgan Holdings Inc. (NYSE:SLGN) by 6.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 21,733 shares of the industrial products company’s stock after selling 1,507 shares during the period. Seven Eight Capital LP’s holdings in Silgan were worth $920,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank acquired a new position in Silgan during the fourth quarter worth $41,921,000. Janus Henderson Group PLC raised its holdings in shares of Silgan by 95.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock valued at $59,462,000 after buying an additional 598,472 shares during the period. Boston Trust Walden Corp lifted its stake in Silgan by 20.6% during the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock worth $79,776,000 after acquiring an additional 322,511 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Silgan by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock valued at $202,123,000 after acquiring an additional 246,813 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Silgan by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock valued at $125,404,000 after acquiring an additional 204,384 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on SLGN shares. JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $46.00 to $53.00 in a research note 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 note on Thursday, August 1st. Robert W. Baird increased their price objective on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Citigroup boosted their target price on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial reaffirmed 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. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Insider Activity at Silgan

In other news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the sale, the vice president now owns 11,495 shares in the company, valued at $563,714.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.39% of the stock is owned by corporate insiders.

Silgan Trading Down 1.3 %

NYSE:SLGN opened at $51.32 on Friday. Silgan Holdings Inc. has a 1 year low of $38.11 and a 1 year high of $52.84. The stock has a market cap of $5.48 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.49 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. The stock has a 50-day simple moving average of $49.38 and a 200-day simple moving average of $46.97.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, beating 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 company 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 posted $0.83 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, analysts anticipate that Silgan Holdings Inc. will post 3.66 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 1.48%. Silgan’s dividend payout ratio is currently 26.67%.

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.