Aristides Capital LLC Acquires New Stake in Silgan Holdings Inc. (NYSE:SLGN)

Aristides Capital LLC purchased a new stake in Silgan Holdings Inc. (NYSE:SLGN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,520 shares of the industrial products company’s stock, valued at approximately $234,000.

A number of other institutional investors also recently modified their holdings of SLGN. Treasurer of the State of North Carolina boosted its position in Silgan by 1.0% during the 4th 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 acquiring an additional 360 shares during the last quarter. TFO Wealth Partners LLC boosted its holdings in Silgan by 10,540.0% during the fourth quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 527 shares during the last quarter. Eagle Asset Management Inc. bought a new position in Silgan in the fourth quarter valued at $3,925,000. First Trust Advisors LP lifted its position in Silgan by 2.3% during the 4th quarter. First Trust Advisors LP now owns 1,844,260 shares of the industrial products company’s stock worth $83,453,000 after buying an additional 41,763 shares in the last quarter. Finally, AdvisorShares Investments LLC lifted its position in Silgan by 47.4% during the 4th quarter. AdvisorShares Investments LLC now owns 74,926 shares of the industrial products company’s stock worth $3,390,000 after buying an additional 24,083 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Silgan

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SLGN shares. Wells Fargo & Company lifted their target price on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research 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 stock an “outperform” rating in a report on Thursday, August 1st. Citigroup lifted their price objective on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com raised shares of Silgan from a “hold” rating to a “buy” rating in a report on Friday, September 20th. Finally, Royal Bank of Canada lifted their price target on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Silgan Stock Up 1.8 %

Shares of SLGN opened at $52.50 on Tuesday. The firm’s 50-day simple moving average is $50.24 and its 200 day simple moving average is $47.39. 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 firm has a market cap of $5.61 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 1.49 and a beta of 0.67. Silgan Holdings Inc. has a 52 week low of $38.11 and a 52 week high of $52.84.

Silgan (NYSE:SLGN) last released 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 business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm posted $0.83 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts forecast that Silgan Holdings Inc. will post 3.66 earnings per share for the current year.

Silgan Announces Dividend

The firm also recently declared 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 1.45%. The ex-dividend date was Tuesday, September 3rd. Silgan’s dividend payout ratio is 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.