Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 11.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,495,033 shares of the industrial products company’s stock after acquiring an additional 157,160 shares during the quarter. Geode Capital Management LLC’s holdings in Silgan were worth $78,509,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings 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 acquiring an additional 2,932,680 shares during the period. Dimensional Fund Advisors LP grew its holdings in Silgan by 7.4% in the second 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 during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Silgan by 1.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock valued at $137,047,000 after buying an additional 29,565 shares in the last quarter. State Street Corp raised its stake in shares of Silgan by 0.6% during the 3rd quarter. State Street Corp now owns 2,497,683 shares of the industrial products company’s stock worth $131,128,000 after buying an additional 14,109 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in Silgan by 0.9% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,278,560 shares of the industrial products company’s stock valued at $67,124,000 after acquiring an additional 11,655 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Analysts Set New Price Targets

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

Silgan Stock Performance

Silgan stock opened at $52.18 on Friday. The stock has a fifty day moving average price of $53.89 and a 200 day moving average price of $50.04. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The firm has a market capitalization of $5.57 billion, a P/E ratio of 18.91, a PEG ratio of 1.44 and a beta of 0.69.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the company earned $1.16 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. Equities research analysts anticipate that Silgan Holdings Inc. will post 3.6 earnings per share for the current year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.19 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.46%. Silgan’s dividend payout ratio is presently 27.54%.

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.