Charles Schwab Investment Management Inc. Acquires 97,381 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Charles Schwab Investment Management Inc. grew its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 13.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 815,468 shares of the industrial products company’s stock after buying an additional 97,381 shares during the period. Charles Schwab Investment Management Inc. owned 0.76% of Silgan worth $42,812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLGN. Blue Trust Inc. grew its holdings in shares of Silgan by 256.6% during the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 426 shares during the period. Versant Capital Management Inc raised its holdings in Silgan by 2,838.5% in the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 1,107 shares in the last quarter. GAMMA Investing LLC lifted its position in Silgan by 109.9% during the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after buying an additional 613 shares during the period. Headlands Technologies LLC purchased a new position in Silgan during the second quarter valued at $70,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after buying an additional 963 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Silgan Trading Up 0.1 %

NYSE:SLGN opened at $57.53 on Monday. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.51 and a beta of 0.67. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average price is $52.87 and its 200-day moving average price is $49.26. Silgan Holdings Inc. has a 52 week low of $41.07 and a 52 week high of $58.14.

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

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.32%. The ex-dividend date is Monday, December 2nd. Silgan’s dividend payout ratio is currently 27.54%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada raised their target price on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.43.

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.