Franklin Resources Inc. Takes Position in Silgan Holdings Inc. (NYSE:SLGN)

Franklin Resources Inc. acquired a new position in Silgan Holdings Inc. (NYSE:SLGN) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,306 shares of the industrial products company’s stock, valued at approximately $223,000.

Several other hedge funds have also recently bought and sold shares of SLGN. Natixis Advisors LLC increased its position in Silgan by 3.6% in the 2nd quarter. Natixis Advisors LLC now owns 44,999 shares of the industrial products company’s stock valued at $1,905,000 after acquiring an additional 1,570 shares during the period. Arizona State Retirement System raised its stake in shares of Silgan by 1.9% during the second quarter. Arizona State Retirement System now owns 23,853 shares of the industrial products company’s stock valued at $1,010,000 after purchasing an additional 438 shares in the last quarter. Paralel Advisors LLC lifted its holdings in Silgan by 31.8% in the second quarter. Paralel Advisors LLC now owns 47,007 shares of the industrial products company’s stock worth $1,990,000 after purchasing an additional 11,329 shares during the period. LSV Asset Management grew its position in Silgan by 5.3% in the 2nd quarter. LSV Asset Management now owns 352,200 shares of the industrial products company’s stock valued at $14,909,000 after buying an additional 17,600 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in Silgan during the 2nd quarter valued at about $573,000. 70.25% of the stock is currently owned by institutional investors.

Silgan Price Performance

NYSE SLGN opened at $52.05 on Thursday. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The business’s fifty day moving average is $54.05 and its two-hundred day moving average is $50.50. The stock has a market capitalization of $5.56 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.44 and a beta of 0.69. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09.

Silgan (NYSE:SLGN) last announced its earnings results 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). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the firm earned $1.16 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, research analysts forecast that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.46%. The ex-dividend date was Monday, December 2nd. Silgan’s payout ratio is 27.54%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SLGN. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada upped their target price on Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Silgan presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.14.

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.