Silgan Holdings Inc. (NYSE:SLGN) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,962,414 shares of the industrial products company’s stock after acquiring an additional 204,384 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.77% of Silgan worth $125,404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SLGN. Nordea Investment Management AB boosted its holdings in Silgan by 118.0% in the 1st quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company’s stock valued at $9,755,000 after purchasing an additional 108,942 shares during the last quarter. Choreo LLC purchased a new position in Silgan in the second quarter worth approximately $498,000. Seven Eight Capital LP purchased a new position in Silgan in the first quarter worth approximately $1,129,000. State Board of Administration of Florida Retirement System increased its stake in Silgan by 17.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock worth $4,769,000 after acquiring an additional 13,289 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Silgan by 6.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company’s stock valued at $109,248,000 after purchasing an additional 163,853 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Silgan Price Performance

SLGN stock opened at $51.37 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $5.49 billion, a P/E ratio of 18.02, a PEG ratio of 1.49 and a beta of 0.67. The business has a 50 day simple moving average of $49.52 and a 200-day simple moving average of $47.08. Silgan Holdings Inc. has a twelve month low of $38.11 and a twelve month high of $52.84.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business earned $0.83 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Silgan Holdings Inc. will post 3.66 EPS for the current year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.48%. Silgan’s dividend payout ratio (DPR) is presently 26.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLGN. Wells Fargo & Company raised their price objective on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada boosted their price target on shares of Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and set a $59.00 price objective (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Finally, Citigroup raised their price target on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Insider Activity

In related news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.39% of the company’s stock.

About Silgan

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.