ProShare Advisors LLC Sells 49,820 Shares of Silgan Holdings Inc. $SLGN

ProShare Advisors LLC cut its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 7.7% in the third quarter, Holdings Channel reports. The firm owned 598,202 shares of the industrial products company’s stock after selling 49,820 shares during the quarter. ProShare Advisors LLC’s holdings in Silgan were worth $20,788,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SLGN. State of Wyoming acquired a new position in shares of Silgan during the 3rd quarter worth about $121,000. Choreo LLC increased its stake in shares of Silgan by 3.1% in the 3rd quarter. Choreo LLC now owns 19,970 shares of the industrial products company’s stock valued at $694,000 after acquiring an additional 605 shares during the last quarter. Evergreen Capital Management LLC increased its stake in shares of Silgan by 22.8% in the 3rd quarter. Evergreen Capital Management LLC now owns 16,206 shares of the industrial products company’s stock valued at $563,000 after acquiring an additional 3,005 shares during the last quarter. Inspire Investing LLC increased its stake in shares of Silgan by 19.6% in the 3rd quarter. Inspire Investing LLC now owns 21,222 shares of the industrial products company’s stock valued at $737,000 after acquiring an additional 3,477 shares during the last quarter. Finally, Skylands Capital LLC raised its position in shares of Silgan by 97.6% in the 3rd quarter. Skylands Capital LLC now owns 81,500 shares of the industrial products company’s stock valued at $2,832,000 after acquiring an additional 40,250 shares during the period. Institutional investors own 70.25% of the company’s stock.

Silgan Stock Up 5.1%

NYSE:SLGN opened at $42.57 on Tuesday. Silgan Holdings Inc. has a 1 year low of $33.70 and a 1 year high of $49.55. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 1.54. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.21 and a beta of 0.67. The stock has a 50-day moving average price of $38.36 and a two-hundred day moving average price of $41.38.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.10 billion. Silgan had a return on equity of 16.74% and a net margin of 4.05%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.22 earnings per share. As a group, equities analysts expect that Silgan Holdings Inc. will post 3.89 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on SLGN shares. Royal Bank Of Canada lifted their price objective on shares of Silgan from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday. Wells Fargo & Company restated an “overweight” rating and set a $52.00 price objective (down from $56.00) on shares of Silgan in a report on Monday, October 19th. Bank of America upped their target price on shares of Silgan from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. UBS Group set a $38.00 target price on shares of Silgan and gave the stock a “neutral” rating in a report on Monday, October 5th. Finally, Truist Financial increased their target price on shares of Silgan from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.70.

Silgan Company Profile

Silgan Holdings Inc (NYSE: SLGN) is a manufacturer of rigid packaging products used by consumer goods companies. The company produces metal containers, plastic containers and specialty closures for food, beverage, personal care, household, healthcare, industrial and other products.

Silgan’s metal packaging business supplies cans and containers for food, pet food, paint, chemicals, aerosols and other applications. Its plastic packaging operations manufacture bottles, tubs and other containers, while its closures business produces metal and plastic caps, lids and dispensing systems for a range of consumer and industrial products.

Founded in 1987, Silgan serves customers primarily across North America and Europe through a network of manufacturing facilities.