Pathstone Holdings LLC Buys 1,421 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Pathstone Holdings LLC lifted its position in Silgan Holdings Inc. (NYSE:SLGN) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,448 shares of the industrial products company’s stock after buying an additional 1,421 shares during the quarter. Pathstone Holdings LLC’s holdings in Silgan were worth $1,494,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of Silgan by 256.6% during the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 426 shares during the last quarter. Versant Capital Management Inc raised its stake in Silgan by 2,838.5% in the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after buying an additional 1,107 shares during the period. GAMMA Investing LLC lifted its position in shares of Silgan by 109.9% in the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after buying an additional 613 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 963 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Silgan in the 2nd quarter valued at $70,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SLGN shares. Royal Bank of Canada upped their price objective on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Citigroup increased their price target on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $46.00 to $53.00 in a report on Thursday, August 1st. Truist Financial reaffirmed 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. Finally, Wells Fargo & Company boosted their target price on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.43.

Silgan Trading Up 0.5 %

Shares of Silgan stock opened at $57.45 on Friday. The firm’s 50-day moving average price is $52.64 and its two-hundred day moving average price is $49.12. 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 12-month low of $40.88 and a 12-month high of $58.14. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.50 and a beta of 0.67.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 18.76% and a net margin of 5.11%. Silgan’s quarterly 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 earnings per share. On average, analysts forecast that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend 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.