Wipfli Financial Advisors LLC Makes New Investment in Silgan Holdings Inc. (NYSE:SLGN)

Wipfli Financial Advisors LLC purchased a new position in shares of Silgan Holdings Inc. (NYSE:SLGNGet Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 695 shares of the industrial products company’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SLGN. Raymond James & Associates grew its position in shares of Silgan by 21.6% during the 1st quarter. Raymond James & Associates now owns 32,571 shares of the industrial products company’s stock worth $1,506,000 after buying an additional 5,788 shares in the last quarter. Citigroup Inc. grew its position in shares of Silgan by 5.4% during the 1st quarter. Citigroup Inc. now owns 12,553 shares of the industrial products company’s stock worth $579,000 after buying an additional 640 shares in the last quarter. Natixis Advisors L.P. grew its position in shares of Silgan by 9.0% during the 1st quarter. Natixis Advisors L.P. now owns 27,788 shares of the industrial products company’s stock worth $1,285,000 after buying an additional 2,288 shares in the last quarter. Bank of Montreal Can grew its position in shares of Silgan by 3.3% during the 1st quarter. Bank of Montreal Can now owns 21,702 shares of the industrial products company’s stock worth $1,009,000 after buying an additional 703 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Silgan during the 1st quarter worth $89,000. Institutional investors own 68.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. KeyCorp raised their price objective on Silgan from $49.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, December 15th. Wells Fargo & Company raised their price objective on Silgan from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, January 9th. Royal Bank of Canada raised their price objective on Silgan from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, October 28th. StockNews.com assumed coverage on Silgan in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Truist Financial raised Silgan from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Thursday, January 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Silgan currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Silgan Price Performance

Shares of NYSE SLGN opened at $50.82 on Friday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.88 and a current ratio of 1.39. The company has a market cap of $5.59 billion, a PE ratio of 14.12, a P/E/G ratio of 2.66 and a beta of 0.81. The business has a 50-day simple moving average of $52.16 and a two-hundred day simple moving average of $47.59. Silgan Holdings Inc. has a fifty-two week low of $38.59 and a fifty-two week high of $54.59.

Silgan (NYSE:SLGNGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.05. Silgan had a return on equity of 26.81% and a net margin of 6.27%. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.85 billion. As a group, equities analysts expect that Silgan Holdings Inc. will post 3.96 EPS for the current fiscal year.

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Wednesday, November 30th. Silgan’s payout ratio is 17.78%.

Silgan Profile

(Get Rating)

Silgan Holdings, Inc engages in the manufacture and sale of rigid packaging for consumer goods products. It operates through the following business segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers dispensing and specialty closures for food, beverage, health care, garden, home, personal care, fragrance, and beauty products.

Further Reading

Institutional Ownership by Quarter for Silgan (NYSE:SLGN)

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