Tidal Investments LLC Lowers Position in Silgan Holdings Inc. (NYSE:SLGN)

Tidal Investments LLC lowered its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 41.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,667 shares of the industrial products company’s stock after selling 13,190 shares during the period. Tidal Investments LLC’s holdings in Silgan were worth $980,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC raised its position in shares of Silgan by 87.7% in the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock worth $329,619,000 after buying an additional 2,932,680 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in Silgan during the second quarter worth about $19,666,000. Weiss Asset Management LP purchased a new position in shares of Silgan in the 3rd quarter worth about $11,422,000. Dimensional Fund Advisors LP lifted its stake in shares of 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 valued at $125,404,000 after purchasing an additional 204,384 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Silgan by 202.3% during the 3rd quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company’s stock worth $13,015,000 after purchasing an additional 165,900 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Trading Down 0.5 %

SLGN opened at $51.92 on Friday. The firm’s 50 day moving average is $53.89 and its 200-day moving average is $50.04. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $5.54 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.44 and a beta of 0.69.

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). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business posted $1.16 earnings per share. Silgan’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts expect that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Monday, December 2nd. Silgan’s dividend payout ratio (DPR) is 27.54%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.14.

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.