Dana Investment Advisors Inc. Sells 2,041 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Dana Investment Advisors Inc. decreased its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,827 shares of the industrial products company’s stock after selling 2,041 shares during the quarter. Dana Investment Advisors Inc. owned approximately 0.07% of Silgan worth $3,337,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in Silgan by 118.0% during the 1st quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company’s stock worth $9,755,000 after acquiring an additional 108,942 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Silgan by 7.4% during 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 purchased a new position in Silgan during the second quarter valued at approximately $498,000. Seven Eight Capital LP purchased a new position in Silgan during the first quarter valued at approximately $1,129,000. Finally, State Board of Administration of Florida Retirement System raised its stake in Silgan by 17.6% in 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 buying an additional 13,289 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

SLGN has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird lifted their target price on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Truist Financial reissued a “buy” rating and set a $59.00 price target (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Royal Bank of Canada lifted their price objective 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. Finally, StockNews.com upgraded shares of Silgan from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. One equities research 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Silgan Stock Performance

SLGN opened at $51.98 on Wednesday. The firm’s 50-day moving average price is $50.36 and its 200-day moving average price is $47.44. The company has a market cap of $5.55 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 1.50 and a beta of 0.67. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31. Silgan Holdings Inc. has a 52-week low of $38.11 and a 52-week high of $52.84.

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

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, September 3rd. Silgan’s payout ratio is 26.67%.

Insider Buying and Selling

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

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.