Park Avenue Securities LLC Makes New $211,000 Investment in Silgan Holdings Inc. (NYSE:SLGN)

Park Avenue Securities LLC bought a new position in Silgan Holdings Inc. (NYSE:SLGN – Get Rating) during the 3rd quarter, HoldingsChannel reports. The firm bought 5,017 shares of the industrial products company’s stock, valued at approximately $211,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Silgan by 0.9% in the first quarter. Vanguard Group Inc. now owns 8,657,331 shares of the industrial products company’s stock worth $400,228,000 after purchasing an additional 77,304 shares during the period. JPMorgan Chase & Co. raised its holdings in Silgan by 2.6% in the second quarter. JPMorgan Chase & Co. now owns 4,849,746 shares of the industrial products company’s stock worth $200,537,000 after purchasing an additional 125,121 shares during the period. Victory Capital Management Inc. increased its position in shares of Silgan by 1.0% during the second quarter. Victory Capital Management Inc. now owns 2,831,900 shares of the industrial products company’s stock worth $117,099,000 after acquiring an additional 29,382 shares in the last quarter. State Street Corp increased its position in shares of Silgan by 5.2% during the first quarter. State Street Corp now owns 2,327,760 shares of the industrial products company’s stock worth $107,612,000 after acquiring an additional 114,449 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Silgan by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,315,372 shares of the industrial products company’s stock worth $107,040,000 after acquiring an additional 16,717 shares in the last quarter. 68.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on SLGN. Royal Bank of Canada increased their price objective on shares of Silgan from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, October 28th. Citigroup increased their price objective on shares of Silgan from $49.00 to $53.00 in a research report on Wednesday, January 4th. StockNews.com initiated coverage on shares of Silgan in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Bank of America raised their target price on shares of Silgan from $54.00 to $56.00 in a research report on Thursday, October 13th. Finally, Wells Fargo & Company raised their target price on shares of Silgan from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, January 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.50.

Silgan Stock Performance

Shares of SLGN stock opened at $50.79 on Wednesday. The stock has a market cap of $5.59 billion, a P/E ratio of 14.11, 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 current ratio of 1.39 and a quick ratio of 0.88. The company has a fifty day moving average price of $52.26 and a two-hundred day moving average price of $47.79. Silgan Holdings Inc. has a one year low of $38.59 and a one year high of $54.59.

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

Silgan Announces Dividend

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

About Silgan

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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.