Arizona State Retirement System Acquires 438 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Arizona State Retirement System lifted its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,853 shares of the industrial products company’s stock after purchasing an additional 438 shares during the quarter. Arizona State Retirement System’s holdings in Silgan were worth $1,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in shares of Silgan by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock worth $202,123,000 after purchasing an additional 246,813 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Silgan by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,804,254 shares of the industrial products company’s stock valued at $126,895,000 after buying an additional 33,460 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Silgan by 6.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company’s stock worth $109,248,000 after acquiring an additional 163,853 shares during the period. Boston Trust Walden Corp boosted its position in shares of Silgan by 20.6% during the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock worth $79,776,000 after acquiring an additional 322,511 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Silgan by 2.3% in the fourth quarter. First Trust Advisors LP now owns 1,844,260 shares of the industrial products company’s stock valued at $83,453,000 after acquiring an additional 41,763 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their target price on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Citigroup lifted their target price on Silgan from $50.00 to $60.00 and gave the company a “buy” rating 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. Truist Financial reaffirmed a “buy” rating and set a $59.00 price target (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Finally, StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research note on Saturday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Silgan Stock Up 1.1 %

NYSE:SLGN opened at $50.53 on Friday. Silgan Holdings Inc. has a one year low of $38.11 and a one year high of $52.84. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64. The company has a market cap of $5.40 billion, a PE ratio of 17.73, a P/E/G ratio of 1.44 and a beta of 0.67. The firm’s 50 day simple moving average is $48.67 and its 200 day simple moving average is $46.76.

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

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.50%. Silgan’s dividend payout ratio (DPR) is 26.67%.

Insider Buying and Selling

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.39% of the stock is owned by insiders.

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.