11,881 Shares in Silgan Holdings Inc. (NYSE:SLGN) Bought by Choreo LLC

Choreo LLC bought a new stake in Silgan Holdings Inc. (NYSE:SLGN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,881 shares of the industrial products company’s stock, valued at approximately $498,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLGN. Nordea Investment Management AB raised its holdings in shares of Silgan by 118.0% during the 1st quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company’s stock valued at $9,755,000 after purchasing an additional 108,942 shares in the last quarter. Seven Eight Capital LP bought a new position in Silgan during the first quarter valued at about $1,129,000. State Board of Administration of Florida Retirement System lifted its position in shares of Silgan by 17.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock worth $4,769,000 after buying an additional 13,289 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake 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 in the last quarter. Finally, MQS Management LLC acquired a new position in shares of Silgan during the 1st quarter valued at about $269,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Silgan

In other 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 sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.39% of the company’s stock.

Silgan Trading Up 1.1 %

Shares of SLGN stock opened at $50.53 on Monday. The firm has a fifty day moving average of $48.67 and a 200-day moving average of $46.80. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.46 and a beta of 0.67. Silgan Holdings Inc. has a 52-week low of $38.11 and a 52-week high of $52.84. 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 (NYSE:SLGN) last posted its quarterly 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 firm had revenue of $1.38 billion during 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%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 earnings per share. On average, equities research analysts forecast that Silgan Holdings Inc. will post 3.66 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.50%. The ex-dividend date is Tuesday, September 3rd. Silgan’s dividend payout ratio is 26.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SLGN. Truist Financial restated a “buy” rating and issued a $59.00 price objective (up from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Citigroup upped 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 raised their price objective on shares of Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and upped their target price for the company from $46.00 to $53.00 in a research note on Thursday, August 1st. Finally, StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

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.