Livforsakringsbolaget Skandia Omsesidigt Has $1.82 Million Position in Silgan Holdings Inc. (NYSE:SLGN)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in Silgan Holdings Inc. (NYSE:SLGN) by 24.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,700 shares of the industrial products company’s stock after acquiring an additional 6,900 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Silgan were worth $1,821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. raised its stake in Silgan by 0.5% in the second 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 in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Silgan by 5.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock valued at $218,000 after buying an additional 250 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of 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 acquiring an additional 267 shares during the period. Retirement Systems of Alabama boosted its position in shares of Silgan by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 101,639 shares of the industrial products company’s stock worth $4,936,000 after acquiring an additional 268 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Silgan by 1.1% in the second quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock valued at $1,594,000 after acquiring an additional 421 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SLGN shares. Truist Financial reaffirmed a “buy” rating and issued a $59.00 target price (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Royal Bank of Canada increased their target price on shares of Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Wells Fargo & Company raised their target price on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.00.

Insider Activity

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the transaction, the vice president now owns 11,495 shares in the company, valued at $563,714.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.39% of the company’s stock.

Silgan Price Performance

SLGN stock opened at $51.57 on Friday. The company has a market capitalization of $5.51 billion, a P/E ratio of 18.09, a PEG ratio of 1.48 and a beta of 0.67. The company has a fifty day moving average price of $50.68 and a 200-day moving average price of $47.76. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06. Silgan Holdings Inc. has a 52-week low of $38.11 and a 52-week high of $52.84.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. Silgan’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.83 EPS. As a group, equities analysts expect that Silgan Holdings Inc. will post 3.66 EPS for the current year.

Silgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.47%. Silgan’s dividend payout ratio (DPR) is currently 26.67%.

About Silgan

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.