Mutual of America Capital Management LLC Has $2.30 Million Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Mutual of America Capital Management LLC lessened its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 5.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 43,861 shares of the industrial products company’s stock after selling 2,602 shares during the period. Mutual of America Capital Management LLC’s holdings in Silgan were worth $2,303,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SLGN. Blue Trust Inc. lifted its holdings in Silgan by 256.6% during the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 426 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Silgan by 2,838.5% in the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 1,107 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Silgan by 109.9% during the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 613 shares during the period. Venturi Wealth Management LLC raised its stake in Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 963 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Silgan in the second quarter valued at approximately $70,000. Institutional investors own 70.25% of the company’s stock.

Silgan Stock Performance

SLGN opened at $56.53 on Monday. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.46 and a beta of 0.67. The company’s fifty day moving average price is $52.29 and its two-hundred day moving average price is $48.93. Silgan Holdings Inc. has a 1-year low of $40.88 and a 1-year high of $56.78. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts expect that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Monday, December 2nd. Silgan’s payout ratio is 27.54%.

Analysts Set New Price Targets

Several equities 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 company an “outperform” rating in a research report on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and set a $59.00 target price (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird lifted their price objective on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Silgan presently has a consensus rating of “Moderate Buy” and an average target price of $57.43.

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.