Eagle Asset Management Inc. Has $9.17 Million Position in Silgan Holdings Inc. (NYSE:SLGN)

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

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of Silgan by 256.6% in the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 426 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Silgan by 2,838.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after buying an additional 1,107 shares during the period. GAMMA Investing LLC increased its stake in shares of Silgan by 109.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 613 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Silgan in the 2nd quarter valued at approximately $70,000. Finally, Venturi Wealth Management LLC boosted its stake in Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 963 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on SLGN shares. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $46.00 to $53.00 in a report on Thursday, August 1st. Wells Fargo & Company lifted their target price on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Citigroup increased their price target 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 lifted their price objective on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial reissued a “buy” rating and set a $59.00 target price (up from $56.00) on shares of Silgan 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.43.

Silgan Price Performance

Shares of SLGN opened at $56.53 on Friday. 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 Holdings Inc. has a twelve month low of $40.88 and a twelve month high of $56.78. The stock has a market capitalization of $6.04 billion, a P/E ratio of 20.48, a P/E/G ratio of 1.46 and a beta of 0.67. The company has a 50 day moving average of $52.29 and a 200-day moving average of $48.91.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm earned $1.16 earnings per share. As a group, equities research analysts forecast that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.19 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.34%. Silgan’s dividend 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.