Versant Capital Management Inc Sells 228 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Versant Capital Management Inc decreased its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 20.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 910 shares of the industrial products company’s stock after selling 228 shares during the period. Versant Capital Management Inc’s holdings in Silgan were worth $47,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its stake in shares of Silgan by 220.4% in the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 963 shares during the period. Headlands Technologies LLC bought a new position in Silgan in the 2nd quarter worth approximately $70,000. GAMMA Investing LLC grew its holdings in Silgan by 51.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock valued at $93,000 after buying an additional 606 shares in the last quarter. KBC Group NV raised its position in shares of Silgan by 27.7% during the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock valued at $120,000 after buying an additional 494 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Silgan in the second quarter worth $104,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Silgan Stock Performance

NYSE:SLGN opened at $50.88 on Tuesday. The firm has a market capitalization of $5.43 billion, a PE ratio of 18.43, a PEG ratio of 1.44 and a beta of 0.71. The stock’s fifty day moving average is $54.04 and its 200 day moving average is $50.69. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share 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 net margin of 5.11% and a return on equity of 18.76%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. On average, sell-side analysts anticipate that Silgan Holdings Inc. will post 3.6 earnings per share for the current year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.19 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.49%. Silgan’s payout ratio is 27.54%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Truist Financial lifted their price target on shares of Silgan from $63.00 to $69.00 and gave the company a “buy” rating in a report on Monday. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada raised their price target on Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Bank of America upped their price objective on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Monday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.75.

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.