Chesapeake Capital Corp IL Has $673,000 Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Chesapeake Capital Corp IL grew its stake in Silgan Holdings Inc. (NYSE:SLGN) by 53.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,054 shares of the industrial products company’s stock after purchasing an additional 4,556 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Silgan were worth $673,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Daiwa Securities Group Inc. lifted its stake in shares of Silgan by 0.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock valued at $1,696,000 after purchasing an additional 218 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Silgan by 5.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock worth $218,000 after buying an additional 250 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Silgan by 2.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock worth $453,000 after buying an additional 267 shares during the period. Verdence Capital Advisors LLC raised its stake in Silgan by 5.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock worth $390,000 after buying an additional 388 shares during the period. Finally, AQR Capital Management LLC raised its stake in Silgan by 1.1% during the 2nd quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock worth $1,594,000 after buying an additional 421 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Wells Fargo & Company raised their price objective on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. 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 note on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and set a $59.00 price objective (up previously from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Finally, Citigroup raised their price objective on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Silgan has an average rating of “Moderate Buy” and an average target price of $57.43.

Silgan Stock Performance

SLGN opened at $53.55 on Friday. The business’s 50-day moving average price is $51.78 and its two-hundred day moving average price is $48.59. Silgan Holdings Inc. has a 1 year low of $40.88 and a 1 year high of $55.32. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 1.40 and a beta of 0.67. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75.

Silgan (NYSE:SLGN) last released its quarterly earnings results 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 firm had revenue of $1.75 billion during 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 business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 EPS. Equities analysts expect that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.42%. The ex-dividend date 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.