Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,313,680 shares of the industrial products company’s stock after selling 26,088 shares during the quarter. Victory Capital Management Inc. owned 2.17% of Silgan worth $97,938,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Silgan during the fourth quarter valued at approximately $41,921,000. Janus Henderson Group PLC lifted its position in shares of Silgan by 95.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock valued at $59,462,000 after acquiring an additional 598,472 shares during the last quarter. Boston Trust Walden Corp boosted its stake in shares of Silgan by 20.6% during the 2nd 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. Wellington Management Group LLP grew its holdings in shares of Silgan by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock worth $202,123,000 after acquiring an additional 246,813 shares during the last quarter. Finally, SG Capital Management LLC acquired a new stake in shares of Silgan during the first quarter worth $8,584,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Citigroup lifted their price target on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada lifted 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. Wells Fargo & Company upped their price target on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. Finally, StockNews.com upgraded Silgan from a “hold” rating to a “buy” rating in a report on Friday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.00.

Insider Transactions at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the sale, the vice president now owns 11,495 shares of the company’s stock, valued at $563,714.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.39% of the stock is owned by insiders.

Silgan Trading Up 0.3 %

NYSE SLGN opened at $50.48 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. Silgan Holdings Inc. has a 1-year low of $38.11 and a 1-year high of $52.84. The firm’s fifty day simple moving average is $47.85 and its 200-day simple moving average is $46.60. The company has a market capitalization of $5.39 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.48 and a beta of 0.67.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, topping 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 return on equity of 19.22% and a net margin of 5.24%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. As a group, sell-side analysts anticipate that Silgan Holdings Inc. will post 3.66 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Tuesday, September 3rd. Silgan’s dividend payout ratio is 26.67%.

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.