Franklin Resources Inc. Buys Shares of 4,306 Silgan Holdings Inc. (NYSE:SLGN)

Franklin Resources Inc. bought a new position in Silgan Holdings Inc. (NYSE:SLGN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,306 shares of the industrial products company’s stock, valued at approximately $223,000.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Silgan by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock worth $125,404,000 after buying an additional 204,384 shares during the last quarter. Choreo LLC acquired a new position in shares of Silgan during the 2nd quarter valued at about $498,000. Nicola Wealth Management LTD. raised its stake in shares of Silgan by 24.4% in the 3rd quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock valued at $5,087,000 after acquiring an additional 19,000 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Silgan by 144.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock worth $2,884,000 after purchasing an additional 32,432 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Silgan by 1.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock worth $137,047,000 after purchasing an additional 29,565 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SLGN shares. 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 boosted their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.14.

Silgan Stock Performance

NYSE SLGN opened at $52.05 on Thursday. The company’s fifty day moving average is $54.05 and its two-hundred day moving average is $50.50. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.44 and a beta of 0.69. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14.

Silgan (NYSE:SLGN) last released its quarterly earnings data 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 firm 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%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Equities research analysts forecast that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.19 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.46%. Silgan’s dividend payout ratio (DPR) is currently 27.54%.

About Silgan

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.