Atria Investments Inc Takes Position in Silgan Holdings Inc. (NYSE:SLGN)

Atria Investments Inc acquired a new position in Silgan Holdings Inc. (NYSE:SLGN) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,640 shares of the industrial products company’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of Silgan by 256.6% in the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after buying an additional 426 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Silgan by 2,838.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 1,107 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Silgan by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 613 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Silgan in the second quarter worth approximately $70,000. Finally, Meeder Asset Management Inc. bought a new position in Silgan during the second quarter valued at approximately $104,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SLGN shares. Truist Financial restated a “buy” rating and issued a $59.00 price objective (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Wells Fargo & Company raised their price objective on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada boosted their target price on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Citigroup raised their price target on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.43.

Silgan Stock Up 1.7 %

Shares of NYSE:SLGN opened at $56.53 on Friday. Silgan Holdings Inc. has a 1 year low of $40.88 and a 1 year high of $56.78. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. The stock’s 50-day moving average is $52.29 and its 200 day moving average is $48.91. The company has a market cap of $6.04 billion, a PE ratio of 20.48, a P/E/G ratio of 1.46 and a beta of 0.67.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 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 net margin of 5.11% and a return on equity of 18.76%. Silgan’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.16 EPS. Sell-side analysts anticipate that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Monday, December 2nd. Silgan’s payout ratio is 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.