Stifel Financial Corp Acquires Shares of 3,862 Silgan Holdings Inc. (NYSE:SLGN)

Stifel Financial Corp bought a new position in Silgan Holdings Inc. (NYSE:SLGN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,862 shares of the industrial products company’s stock, valued at approximately $203,000.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in Silgan by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 832,817 shares of the industrial products company’s stock worth $35,253,000 after acquiring an additional 17,328 shares during the last quarter. nVerses Capital LLC grew its holdings in shares of Silgan by 290.0% in the second quarter. nVerses Capital LLC now owns 3,900 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 2,900 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Silgan by 3.6% in the second quarter. Natixis Advisors LLC now owns 44,999 shares of the industrial products company’s stock worth $1,905,000 after buying an additional 1,570 shares during the period. Arizona State Retirement System increased its position in shares of Silgan by 1.9% in the second quarter. Arizona State Retirement System now owns 23,853 shares of the industrial products company’s stock valued at $1,010,000 after acquiring an additional 438 shares during the period. Finally, Paralel Advisors LLC increased its holdings in Silgan by 31.8% during the 2nd quarter. Paralel Advisors LLC now owns 47,007 shares of the industrial products company’s stock valued at $1,990,000 after purchasing an additional 11,329 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on SLGN. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada lifted their target price on shares of Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Silgan currently has a consensus rating of “Moderate Buy” and an average price target of $58.14.

Silgan Price Performance

Shares of NYSE SLGN opened at $51.73 on Tuesday. The firm has a market cap of $5.52 billion, a P/E ratio of 18.74, a PEG ratio of 1.44 and a beta of 0.69. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a twelve month low of $41.14 and a twelve month high of $58.14. The company has a 50 day moving average of $54.00 and a 200 day moving average of $50.38.

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 the consensus estimate of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the company posted $1.16 EPS. Silgan’s revenue was down 3.2% on a year-over-year basis. As a group, research analysts expect that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Monday, December 2nd. Silgan’s dividend payout ratio (DPR) is presently 27.54%.

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.