Venturi Wealth Management LLC Acquires 963 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Venturi Wealth Management LLC raised its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 220.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,400 shares of the industrial products company’s stock after buying an additional 963 shares during the quarter. Venturi Wealth Management LLC’s holdings in Silgan were worth $74,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SLGN. QRG Capital Management Inc. grew its stake in shares of Silgan by 46.5% in the 1st quarter. QRG Capital Management Inc. now owns 17,874 shares of the industrial products company’s stock valued at $868,000 after purchasing an additional 5,675 shares during the period. Entropy Technologies LP raised its stake in Silgan by 6.7% during the first quarter. Entropy Technologies LP now owns 8,478 shares of the industrial products company’s stock worth $412,000 after acquiring an additional 529 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Silgan by 17.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock valued at $4,769,000 after acquiring an additional 13,289 shares during the period. Chesapeake Capital Corp IL acquired a new stake in shares of Silgan in the 1st quarter valued at $849,000. Finally, Covestor Ltd grew its holdings in shares of Silgan by 69.7% in the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 462 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SLGN. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada raised their price target on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Citigroup raised their target price on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company upped their price target on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.43.

Silgan Stock Performance

Shares of Silgan stock opened at $53.93 on Friday. Silgan Holdings Inc. has a 12 month low of $40.88 and a 12 month high of $55.32. The stock’s fifty day simple moving average is $51.72 and its 200 day simple moving average is $48.54. The company has a market capitalization of $5.76 billion, a PE ratio of 19.54, a PEG ratio of 1.43 and a beta of 0.67. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. Silgan’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 earnings per share. On average, research analysts predict that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Monday, December 2nd. Silgan’s payout ratio is presently 27.54%.

Silgan 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.