Fort Washington Investment Advisors Inc. OH reduced its stake in Silgan Holdings Inc. (NYSE:SLGN – Free Report) by 16.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 489,825 shares of the industrial products company’s stock after selling 97,354 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.46% of Silgan worth $19,774,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC purchased a new stake in Silgan during the 3rd quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its holdings in shares of Silgan by 627.2% in the second quarter. EverSource Wealth Advisors LLC now owns 669 shares of the industrial products company’s stock worth $36,000 after buying an additional 577 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Silgan during the second quarter worth $40,000. Quent Capital LLC acquired a new stake in shares of Silgan during the third quarter worth $49,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Silgan during the first quarter valued at $54,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.
Silgan Price Performance
Shares of SLGN opened at $38.10 on Friday. The business’s 50-day moving average is $44.54 and its two-hundred day moving average is $42.35. The company has a market capitalization of $4.02 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.65 and a beta of 0.70. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.78 and a current ratio of 1.22. Silgan Holdings Inc. has a fifty-two week low of $36.15 and a fifty-two week high of $57.04.
Silgan Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.21 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.84 annualized dividend and a yield of 2.2%. This is a boost from Silgan’s previous quarterly dividend of $0.20. Silgan’s payout ratio is currently 31.23%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on SLGN. Zacks Research raised Silgan from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Truist Financial set a $50.00 price target on Silgan and gave the company a “buy” rating in a research note on Tuesday, January 6th. Citigroup reissued a “buy” rating and issued a $56.00 price objective (up from $47.00) on shares of Silgan in a report on Friday, February 6th. Wells Fargo & Company raised their price objective on Silgan from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $49.00 target price (up from $43.00) on shares of Silgan in a report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Silgan presently has a consensus rating of “Moderate Buy” and an average target price of $52.88.
View Our Latest Research Report on Silgan
Silgan Company 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.
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