Deprince Race & Zollo Inc. Buys Shares of 464,580 Silgan Holdings Inc. (NYSE:SLGN)

Deprince Race & Zollo Inc. acquired a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 464,580 shares of the industrial products company’s stock, valued at approximately $19,666,000. Deprince Race & Zollo Inc. owned approximately 0.44% of Silgan at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SLGN. Norges Bank bought a new stake in Silgan during the fourth quarter worth about $41,921,000. Treasurer of the State of North Carolina boosted its holdings in shares of Silgan by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 37,043 shares of the industrial products company’s stock valued at $1,676,000 after buying an additional 360 shares during the last quarter. TFO Wealth Partners LLC grew its stake in shares of Silgan by 10,540.0% in the fourth quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock valued at $226,000 after buying an additional 527 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in Silgan during the fourth quarter worth $3,925,000. Finally, First Trust Advisors LP lifted its stake in Silgan by 2.3% in the fourth quarter. First Trust Advisors LP now owns 1,844,260 shares of the industrial products company’s stock valued at $83,453,000 after acquiring an additional 41,763 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SLGN has been the topic of a number of research reports. Truist Financial reiterated a “buy” rating and issued a $59.00 price target (up previously from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Robert W. Baird lifted their price target on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Finally, Royal Bank of Canada raised their price target on shares of Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Insider Transactions at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the transaction, the vice president now directly owns 11,495 shares in the company, valued at approximately $563,714.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.39% of the company’s stock.

Silgan Price Performance

Shares of SLGN opened at $51.79 on Friday. The stock has a market cap of $5.53 billion, a PE ratio of 18.17, a PEG ratio of 1.49 and a beta of 0.67. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31. The business has a 50-day simple moving average of $49.98 and a two-hundred day simple moving average of $47.24. Silgan Holdings Inc. has a 12-month low of $38.11 and a 12-month high of $52.84.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. Silgan’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 earnings per share. Analysts anticipate that Silgan Holdings Inc. will post 3.66 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.47%. Silgan’s dividend payout ratio (DPR) is currently 26.67%.

Silgan Company Profile

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.