AQR Capital Management LLC Acquires 421 Shares of Silgan Holdings Inc. (NYSE:SLGN)

AQR Capital Management LLC lifted its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,660 shares of the industrial products company’s stock after acquiring an additional 421 shares during the period. AQR Capital Management LLC’s holdings in Silgan were worth $1,594,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Squarepoint Ops LLC lifted its stake in Silgan by 37.8% in the second quarter. Squarepoint Ops LLC now owns 45,109 shares of the industrial products company’s stock worth $1,909,000 after purchasing an additional 12,367 shares during the last quarter. Sei Investments Co. lifted its stake in Silgan by 1.5% in the second quarter. Sei Investments Co. now owns 333,211 shares of the industrial products company’s stock worth $14,105,000 after purchasing an additional 4,775 shares during the last quarter. Inspire Investing LLC lifted its stake in Silgan by 12.2% in the second quarter. Inspire Investing LLC now owns 8,286 shares of the industrial products company’s stock worth $351,000 after purchasing an additional 902 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Silgan by 2.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 267 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in Silgan by 21.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 11,312 shares of the industrial products company’s stock worth $479,000 after purchasing an additional 2,029 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Analysts Set New Price Targets

SLGN has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada raised their target price on shares of Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and set a $59.00 target price (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Finally, Robert W. Baird raised their target price on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.00.

Insider Buying and Selling at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s 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 completion of the sale, the vice president now directly owns 11,495 shares in the company, valued at $563,714.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.39% of the stock is owned by insiders.

Silgan Stock Performance

Shares of SLGN stock opened at $50.86 on Friday. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 1.50 and a beta of 0.67. The company’s 50 day moving average is $50.67 and its 200 day moving average is $47.71. 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 Holdings Inc. has a 52-week low of $38.11 and a 52-week high of $52.84.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.01. The company 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%. Silgan’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $0.83 earnings per share. On average, sell-side analysts anticipate that Silgan Holdings Inc. will post 3.66 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 1.49%. Silgan’s dividend payout ratio (DPR) is 26.67%.

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.