The Manufacturers Life Insurance Company Has $3.55 Million Position in Silgan Holdings Inc. (NYSE:SLGN)

The Manufacturers Life Insurance Company trimmed its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,535 shares of the industrial products company’s stock after selling 2,289 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Silgan worth $3,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in 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. Choreo LLC bought a new stake in Silgan in the 2nd quarter valued at about $498,000. Allspring Global Investments Holdings LLC raised its stake in Silgan by 6.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company’s stock worth $109,248,000 after buying an additional 163,853 shares during the period. Nicola Wealth Management LTD. boosted its holdings in Silgan by 24.4% in the third quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock worth $5,087,000 after acquiring an additional 19,000 shares in the last quarter. Finally, Leeward Investments LLC MA grew its stake in Silgan by 5.6% in the second quarter. Leeward Investments LLC MA now owns 172,784 shares of the industrial products company’s stock valued at $7,314,000 after acquiring an additional 9,230 shares during the period. Institutional investors own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SLGN shares. Royal Bank of Canada boosted their target price on shares of Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan Price Performance

SLGN opened at $55.38 on Friday. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 1.48 and a beta of 0.69. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $53.38 and a two-hundred day simple moving average of $49.59.

Silgan (NYSE:SLGN) last announced 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 analysts’ expectations of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 EPS. Research analysts predict that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.19 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.37%. Silgan’s dividend payout ratio (DPR) is 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.