Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Quest Partners LLC

Quest Partners LLC decreased its stake in Silgan Holdings Inc. (NYSE:SLGN) by 35.8% during the 3rd quarter, Holdings Channel reports. The firm owned 33,271 shares of the industrial products company’s stock after selling 18,592 shares during the quarter. Quest Partners LLC’s holdings in Silgan were worth $1,747,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in Silgan by 7.4% in 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 buying an additional 204,384 shares during the last quarter. Choreo LLC purchased a new stake in shares of Silgan during the second quarter worth approximately $498,000. Seven Eight Capital LP acquired a new position in Silgan in the 1st quarter valued at $1,129,000. State Board of Administration of Florida Retirement System lifted its holdings in Silgan by 17.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock valued at $4,769,000 after purchasing an additional 13,289 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Silgan by 6.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company’s stock worth $109,248,000 after purchasing an additional 163,853 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SLGN shares. Wells Fargo & Company raised their price target on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Citigroup boosted their target price on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada increased their price target on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Robert W. Baird boosted their price objective on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Two 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 presently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Silgan Price Performance

NYSE:SLGN opened at $54.20 on Tuesday. Silgan Holdings Inc. has a 52 week low of $40.88 and a 52 week high of $55.32. The stock’s fifty day moving average is $51.86 and its two-hundred day moving average is $48.68. The company has a market capitalization of $5.79 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.40 and a beta of 0.67. 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 (NYSE:SLGN) last issued its quarterly earnings data 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). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share. Equities analysts expect that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Announces Dividend

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 given a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.40%. Silgan’s 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.