Silgan Holdings Inc. (NYSE:SLGN) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 48.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,640 shares of the industrial products company’s stock after buying an additional 863 shares during the period. GAMMA Investing LLC’s holdings in Silgan were worth $137,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SLGN. Dimensional Fund Advisors LP raised its stake in Silgan by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock worth $125,404,000 after acquiring an additional 204,384 shares in the last quarter. Choreo LLC acquired a new stake in shares of Silgan during the second quarter worth about $498,000. Nicola Wealth Management LTD. lifted its holdings 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 purchasing an additional 19,000 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Silgan in the 3rd quarter valued at about $2,975,000. Finally, BNP Paribas Financial Markets grew its stake in Silgan by 144.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock worth $2,884,000 after buying an additional 32,432 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Stock Down 0.4 %

Shares of Silgan stock opened at $51.01 on Friday. The company has a market cap of $5.45 billion, a P/E ratio of 18.48, a PEG ratio of 1.44 and a beta of 0.71. The firm has a fifty day moving average of $54.01 and a two-hundred day moving average of $50.75. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. Silgan Holdings Inc. has a one year low of $41.14 and a one year high of $58.14.

Silgan (NYSE:SLGN) last posted its quarterly 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 return on equity of 18.76% and a net margin of 5.11%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the company earned $1.16 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts forecast that Silgan Holdings Inc. will post 3.6 earnings per share for the current year.

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Monday, December 2nd. Silgan’s dividend payout ratio is presently 27.54%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SLGN shares. Truist Financial boosted their price objective on Silgan from $63.00 to $69.00 and gave the company a “buy” rating in a research note on Monday. Bank of America upped their price target on shares of Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada raised their price objective 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. Finally, StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.75.

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.