Silgan Holdings Inc. (NYSE:SLGN) Stock Holdings Lessened by ProShare Advisors LLC

ProShare Advisors LLC cut its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 656,803 shares of the industrial products company’s stock after selling 27,161 shares during the quarter. ProShare Advisors LLC owned 0.62% of Silgan worth $27,802,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Principal Securities Inc. acquired a new stake in shares of Silgan during the fourth quarter valued at approximately $30,000. Norges Bank purchased a new stake in shares of Silgan in the fourth quarter valued at $41,921,000. Treasurer of the State of North Carolina boosted its position in shares of Silgan by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 37,043 shares of the industrial products company’s stock worth $1,676,000 after buying an additional 360 shares during the period. TFO Wealth Partners LLC grew its holdings in shares of Silgan by 10,540.0% during the fourth quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock valued at $226,000 after buying an additional 527 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in Silgan during the fourth quarter valued at $3,925,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLGN has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Silgan from a “hold” rating to a “buy” rating in a research report on Friday. Citigroup boosted 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. Robert W. Baird raised their price target on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Truist Financial reissued a “buy” rating and issued a $59.00 price target (up previously from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Finally, Royal Bank of Canada lifted their target price 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Silgan Price Performance

NYSE SLGN opened at $51.33 on Tuesday. Silgan Holdings Inc. has a 1 year low of $38.11 and a 1 year high of $52.84. The company has a fifty day simple moving average of $49.65 and a 200 day simple moving average of $47.14. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. The company 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.

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

Silgan Announces Dividend

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

Insider Activity at Silgan

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the transaction, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.39% of the company’s stock.

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.