Atria Investments Inc Invests $244,000 in Silgan Holdings Inc. (NYSE:SLGN)

Atria Investments Inc acquired a new stake in Silgan Holdings Inc. (NYSE:SLGN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,640 shares of the industrial products company’s stock, valued at approximately $244,000.

A number of other institutional investors also recently modified their holdings of the stock. Janus Henderson Group PLC raised its holdings in shares of Silgan by 95.6% during the first quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock valued at $59,462,000 after purchasing an additional 598,472 shares during the period. Deprince Race & Zollo Inc. bought a new position in shares of Silgan in the 2nd quarter worth $19,666,000. Boston Trust Walden Corp increased its position in shares of Silgan by 20.6% during the second quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock worth $79,776,000 after acquiring an additional 322,511 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Silgan by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock valued at $125,404,000 after purchasing an additional 204,384 shares in the last quarter. Finally, SG Capital Management LLC bought a new position in Silgan during the 1st quarter valued at $8,584,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Truist Financial restated a “buy” rating and set a $59.00 price target (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Robert W. Baird upped their price objective on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada increased their target price on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Citigroup lifted their price target on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.43.

Silgan Stock Up 1.7 %

SLGN opened at $56.53 on Friday. The company has a 50 day moving average of $52.29 and a 200 day moving average of $48.91. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 12 month low of $40.88 and a 12 month high of $56.78. The company has a market cap of $6.04 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.46 and a beta of 0.67.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 earnings per share. On average, sell-side analysts expect that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Monday, December 2nd. Silgan’s dividend payout ratio (DPR) is presently 27.54%.

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.