MML Investors Services LLC Increases Holdings in Silgan Holdings Inc. (NYSE:SLGN)

MML Investors Services LLC grew its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 20.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,482 shares of the industrial products company’s stock after buying an additional 1,113 shares during the quarter. MML Investors Services LLC’s holdings in Silgan were worth $340,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in Silgan by 87.7% in the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock worth $329,619,000 after acquiring an additional 2,932,680 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Silgan by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock worth $125,404,000 after purchasing an additional 204,384 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Silgan by 1.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock valued at $137,047,000 after buying an additional 29,565 shares during the period. State Street Corp raised its stake in Silgan by 0.6% in the third quarter. State Street Corp now owns 2,497,683 shares of the industrial products company’s stock worth $131,128,000 after buying an additional 14,109 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in Silgan by 0.9% in the third quarter. Segall Bryant & Hamill LLC now owns 1,278,560 shares of the industrial products company’s stock worth $67,124,000 after buying an additional 11,655 shares during the period. 70.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SLGN. Royal Bank of Canada increased 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. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Silgan presently has an average rating of “Moderate Buy” and a consensus target price of $58.14.

Silgan Trading Up 0.9 %

NYSE SLGN opened at $52.96 on Wednesday. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The stock’s fifty day moving average price is $53.94 and its 200-day moving average price is $50.23. The stock has a market cap of $5.66 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.44 and a beta of 0.69.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.16 earnings per share. As a group, equities analysts forecast that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.19 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.44%. Silgan’s payout ratio is 27.54%.

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.