Silgan Holdings Inc. (NYSE:SLGN) Stake Raised by Treasurer of the State of North Carolina

Posted by Defense World Staff on May 20th, 2023

Treasurer of the State of North Carolina increased its holdings in Silgan Holdings Inc. (NYSE:SLGN – Get Rating) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,503 shares of the industrial products company’s stock after acquiring an additional 470 shares during the period. Treasurer of the State of North Carolina’s holdings in Silgan were worth $1,892,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wipfli Financial Advisors LLC acquired a new position in Silgan in the 3rd quarter worth about $29,000. Bessemer Group Inc. increased its position in Silgan by 470.6% in the 3rd quarter. Bessemer Group Inc. now owns 816 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 673 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Silgan in the 4th quarter worth about $35,000. Eagle Bay Advisors LLC increased its position in Silgan by 151.1% in the 2nd quarter. Eagle Bay Advisors LLC now owns 836 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 503 shares during the last quarter. Finally, Belpointe Asset Management LLC acquired a new position in Silgan in the 4th quarter worth about $54,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Silgan Stock Performance

SLGN opened at $47.61 on Friday. The stock’s 50 day moving average price is $50.94 and its two-hundred day moving average price is $52.25. The company has a quick ratio of 0.85, a current ratio of 1.42 and a debt-to-equity ratio of 1.89. Silgan Holdings Inc. has a 12-month low of $38.59 and a 12-month high of $55.41. The firm has a market capitalization of $5.25 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79.

Silgan (NYSE:SLGN – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. Silgan had a return on equity of 25.88% and a net margin of 5.13%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned $0.78 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities analysts forecast that Silgan Holdings Inc. will post 4.02 earnings per share for the current year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. Silgan’s dividend payout ratio is currently 24.41%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Silgan from $43.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, January 26th. Citigroup raised Silgan from a “neutral” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Thursday, April 27th. Bank of America increased their price objective on Silgan from $60.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, April 20th. Wells Fargo & Company increased their price objective on Silgan from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, April 3rd. Finally, StockNews.com initiated coverage on Silgan in a report on Thursday. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Silgan currently has an average rating of “Moderate Buy” and a consensus price target of $56.67.

Silgan Company 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.