Eagle Asset Management Inc. Purchases 49,111 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Eagle Asset Management Inc. raised its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 40.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,022 shares of the industrial products company’s stock after acquiring an additional 49,111 shares during the period. Eagle Asset Management Inc. owned approximately 0.16% of Silgan worth $9,174,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in Silgan by 95.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock worth $59,462,000 after buying an additional 598,472 shares during the period. Deprince Race & Zollo Inc. bought a new stake in Silgan in the 2nd quarter valued at $19,666,000. Boston Trust Walden Corp grew its position in Silgan by 20.6% in the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock worth $79,776,000 after purchasing an additional 322,511 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 valued at $125,404,000 after buying an additional 204,384 shares during the last quarter. Finally, SG Capital Management LLC acquired a new stake in Silgan during the first quarter worth about $8,584,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on SLGN. Robert W. Baird raised their price objective on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Royal Bank of Canada lifted their price target on shares of Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $46.00 to $53.00 in a report on Thursday, August 1st. Citigroup raised their price objective on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Truist Financial reissued a “buy” rating and issued a $59.00 target price (up previously from $56.00) on shares of Silgan in a research note 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, the stock has an average rating of “Moderate Buy” and an average price target of $57.43.

Silgan Price Performance

Shares of Silgan stock opened at $56.53 on Friday. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 1.46 and a beta of 0.67. The firm’s 50-day moving average price is $52.29 and its two-hundred day moving average price is $48.91. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 1-year low of $40.88 and a 1-year high of $56.78.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 earnings per share. On average, equities analysts predict that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 1.34%. The ex-dividend date is Monday, December 2nd. Silgan’s dividend payout ratio is currently 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.