Federated Hermes Inc. Sells 476 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Federated Hermes Inc. decreased its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 5.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,530 shares of the industrial products company’s stock after selling 476 shares during the period. Federated Hermes Inc.’s holdings in Silgan were worth $361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Daiwa Securities Group Inc. increased its position in shares of Silgan by 0.5% during the second quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock valued at $1,696,000 after buying an additional 218 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Silgan by 5.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock worth $218,000 after acquiring an additional 250 shares during the period. Retirement Systems of Alabama raised its position in shares of Silgan by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 101,639 shares of the industrial products company’s stock worth $4,936,000 after acquiring an additional 268 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Silgan by 4.6% in the 1st quarter. Verdence Capital Advisors LLC now owns 7,013 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 306 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in shares of Silgan by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 37,043 shares of the industrial products company’s stock valued at $1,676,000 after purchasing an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Insider Transactions at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction that occurred on 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 $563,714.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.39% of the company’s stock.

Silgan Trading Down 0.2 %

NYSE:SLGN opened at $51.21 on Wednesday. Silgan Holdings Inc. has a 52 week low of $38.11 and a 52 week high of $52.84. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 1.49 and a beta of 0.67. The company’s 50 day moving average price is $49.76 and its 200-day moving average price is $47.19. 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 (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the business earned $0.83 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. On average, equities research analysts forecast that Silgan Holdings Inc. will post 3.66 earnings per share for the current fiscal year.

Silgan Announces Dividend

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

Analysts Set New Price Targets

SLGN has been the subject of several recent research reports. Wells Fargo & Company raised their price objective on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada lifted their price target on shares of Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $46.00 to $53.00 in a report on Thursday, August 1st. Citigroup lifted their target price on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com upgraded Silgan from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

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.