Silgan Holdings Inc. (NYSE:SLGN) Stock Holdings Lifted by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,430 shares of the industrial products company’s stock after buying an additional 388 shares during the period. Verdence Capital Advisors LLC’s holdings in Silgan were worth $390,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. QRG Capital Management Inc. grew its holdings in shares of Silgan by 17.1% during the third quarter. QRG Capital Management Inc. now owns 26,273 shares of the industrial products company’s stock valued at $1,379,000 after purchasing an additional 3,832 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Silgan by 7.6% during the third quarter. New York State Teachers Retirement System now owns 106,539 shares of the industrial products company’s stock valued at $5,593,000 after acquiring an additional 7,480 shares during the period. Bernzott Capital Advisors grew its position in shares of Silgan by 0.5% during the third quarter. Bernzott Capital Advisors now owns 155,227 shares of the industrial products company’s stock worth $8,149,000 after acquiring an additional 775 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Silgan by 0.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 248,943 shares of the industrial products company’s stock worth $13,069,000 after acquiring an additional 635 shares during the period. Finally, GHP Investment Advisors Inc. lifted its position in Silgan by 1.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 122,572 shares of the industrial products company’s stock valued at $6,435,000 after purchasing an additional 1,649 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SLGN shares. Wells Fargo & Company upped their target price 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. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $46.00 to $53.00 in a report on Thursday, August 1st. Royal Bank of Canada lifted 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. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird lifted their price objective on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Silgan currently has an average rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan Stock Up 0.8 %

Shares of SLGN stock opened at $54.07 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.36 and a current ratio of 0.52. The stock has a market cap of $5.77 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.40 and a beta of 0.67. The business’s fifty day moving average is $51.50 and its 200-day moving average is $48.40. Silgan Holdings Inc. has a 1 year low of $40.01 and a 1 year high of $55.24.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 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 business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm posted $1.16 earnings per share. Silgan’s revenue was down 3.2% compared to the same quarter last year. Equities analysts expect that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Dividend Announcement

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