Silgan Holdings Inc. $SLGN Holdings Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund raised its stake in Silgan Holdings Inc. (NYSE:SLGN) by 23.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 230,660 shares of the industrial products company’s stock after acquiring an additional 44,466 shares during the period. New York State Common Retirement Fund owned 0.22% of Silgan worth $9,921,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mutual of America Capital Management LLC boosted its position in Silgan by 1.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 41,012 shares of the industrial products company’s stock valued at $1,764,000 after purchasing an additional 574 shares during the period. Retirement Systems of Alabama increased its position in Silgan by 8.0% in the third quarter. Retirement Systems of Alabama now owns 107,370 shares of the industrial products company’s stock worth $4,618,000 after buying an additional 7,985 shares during the period. GHP Investment Advisors Inc. lifted its stake in Silgan by 1.5% in the third quarter. GHP Investment Advisors Inc. now owns 127,956 shares of the industrial products company’s stock valued at $5,503,000 after buying an additional 1,896 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Silgan by 19.6% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 46,986 shares of the industrial products company’s stock valued at $2,021,000 after acquiring an additional 7,694 shares during the period. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of Silgan by 20.8% during the third quarter. Verdence Capital Advisors LLC now owns 11,007 shares of the industrial products company’s stock valued at $492,000 after acquiring an additional 1,898 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLGN has been the topic of a number of analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $44.00 price objective (up previously from $42.00) on shares of Silgan in a report on Monday, January 12th. Royal Bank Of Canada lowered shares of Silgan from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $49.00 to $43.00 in a research note on Thursday, January 15th. Raymond James Financial reaffirmed a “market perform” rating on shares of Silgan in a report on Thursday, January 15th. Zacks Research raised Silgan from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Silgan in a research report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $50.38.

Insiders Place Their Bets

In other Silgan news, CAO Kimberly Irene Ulmer acquired 1,000 shares of Silgan stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $38.11 per share, for a total transaction of $38,110.00. Following the transaction, the chief accounting officer owned 105,321 shares in the company, valued at approximately $4,013,783.31. This trade represents a 0.96% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.13% of the company’s stock.

Silgan Stock Performance

Shares of NYSE SLGN opened at $43.78 on Wednesday. Silgan Holdings Inc. has a 1 year low of $36.15 and a 1 year high of $57.04. The firm has a market cap of $4.63 billion, a P/E ratio of 14.89, a PEG ratio of 1.92 and a beta of 0.72. The stock has a fifty day moving average price of $41.18 and a two-hundred day moving average price of $43.09. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.85 and a current ratio of 1.27.

Silgan Profile

Silgan Holdings Inc (NYSE: SLGN) is a leading supplier of rigid packaging solutions for consumer goods manufacturers. The company’s core business activities center on the design, production and distribution of metal and plastic containers, closures and dispense systems. Silgan serves a broad array of end markets, including food and beverage, home and personal care, health care and industrial products, providing both standard and custom packaging formats.

Founded in 1987 and headquartered in Stamford, Connecticut, Silgan has grown organically and through strategic acquisitions to establish a global manufacturing footprint.