Algert Global LLC Invests $363,000 in Silgan Holdings Inc. (NYSE:SLGN)

Algert Global LLC acquired a new stake in Silgan Holdings Inc. (NYSE:SLGN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,585 shares of the industrial products company’s stock, valued at approximately $363,000.

Other hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its stake in shares of Silgan by 0.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock valued at $1,696,000 after purchasing an additional 218 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Silgan by 5.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock valued at $218,000 after buying an additional 250 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Silgan by 2.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock worth $453,000 after buying an additional 267 shares during the period. Retirement Systems of Alabama increased its position in shares of Silgan by 0.3% during the first quarter. Retirement Systems of Alabama now owns 101,639 shares of the industrial products company’s stock valued at $4,936,000 after acquiring an additional 268 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Silgan by 1.1% in the 2nd quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock valued at $1,594,000 after acquiring an additional 421 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Stock Down 0.8 %

SLGN stock opened at $50.58 on Wednesday. The company’s 50 day moving average price is $50.72 and its 200 day moving average price is $47.66. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 1.50 and a beta of 0.67. Silgan Holdings Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $52.84. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06.

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

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.50%. Silgan’s payout ratio is currently 26.67%.

Insider Transactions at Silgan

In other Silgan 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 value of $78,464.00. Following the transaction, the vice president now directly owns 11,495 shares in the company, valued at $563,714.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

SLGN has been the subject of several research reports. Truist Financial reiterated a “buy” rating and issued a $59.00 target price (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. Robert W. Baird boosted their price objective on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their target price on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Finally, Royal Bank of Canada raised their price objective 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Silgan presently has an average rating of “Moderate Buy” and a consensus target price 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.