Strs Ohio Sells 15,567 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Strs Ohio lessened its stake in Silgan Holdings Inc. (NYSE:SLGNGet Rating) by 24.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,118 shares of the industrial products company’s stock after selling 15,567 shares during the period. Strs Ohio’s holdings in Silgan were worth $1,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. grew its position in shares of Silgan by 69.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,068,170 shares of the industrial products company’s stock worth $49,381,000 after buying an additional 436,243 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in shares of Silgan by 48.0% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 508,072 shares of the industrial products company’s stock valued at $21,009,000 after buying an additional 164,750 shares during the period. Retirement Systems of Alabama raised its stake in Silgan by 132.8% in the second quarter. Retirement Systems of Alabama now owns 256,328 shares of the industrial products company’s stock worth $10,599,000 after buying an additional 146,227 shares in the last quarter. Millennium Management LLC lifted its holdings in Silgan by 3,096.9% in the second quarter. Millennium Management LLC now owns 140,119 shares of the industrial products company’s stock worth $5,794,000 after buying an additional 135,736 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in Silgan by 43.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 445,204 shares of the industrial products company’s stock valued at $18,409,000 after acquiring an additional 134,293 shares in the last quarter. Institutional investors own 68.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America raised their target price on Silgan from $54.00 to $56.00 in a research note on Thursday, October 13th. Royal Bank of Canada increased their price target on shares of Silgan from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, October 28th. Citigroup increased their price target on shares of Silgan from $49.00 to $53.00 in a research note on Wednesday, January 4th. StockNews.com began coverage on shares of Silgan in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Truist Financial upgraded shares of Silgan from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Thursday, January 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

Silgan Stock Up 0.2 %

NYSE:SLGN opened at $52.26 on Wednesday. The firm has a market cap of $5.75 billion, a P/E ratio of 14.52, a P/E/G ratio of 2.66 and a beta of 0.81. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.88 and a current ratio of 1.39. Silgan Holdings Inc. has a fifty-two week low of $38.59 and a fifty-two week high of $54.59. The firm has a 50-day simple moving average of $51.60 and a two-hundred day simple moving average of $47.07.

Silgan (NYSE:SLGNGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The industrial products company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.05. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.85 billion. Silgan had a net margin of 6.27% and a return on equity of 26.81%. Analysts predict that Silgan Holdings Inc. will post 3.96 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. Silgan’s dividend payout ratio is presently 17.78%.

Silgan Company Profile

(Get Rating)

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products in North America, Europe, and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

Further Reading

Institutional Ownership by Quarter for Silgan (NYSE:SLGN)

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