Edgestream Partners L.P. Invests $1.43 Million in Silgan Holdings Inc. (NYSE:SLGN)

Edgestream Partners L.P. acquired a new position in Silgan Holdings Inc. (NYSE:SLGN) in the second quarter, Holdings Channel.com reports. The firm acquired 33,857 shares of the industrial products company’s stock, valued at approximately $1,433,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of Silgan by 5.8% in 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 lifted its stake in shares of Silgan by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock valued at $125,404,000 after acquiring an additional 204,384 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Silgan by 6.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company’s stock valued at $109,248,000 after acquiring an additional 163,853 shares during the last quarter. Boston Trust Walden Corp lifted its stake in shares of Silgan by 20.6% in the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock valued at $79,776,000 after acquiring an additional 322,511 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Silgan by 2.3% in the 4th 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 hedge funds and other institutional investors.

Silgan Trading Down 1.3 %

SLGN opened at $51.32 on Friday. Silgan Holdings Inc. has a one year low of $38.11 and a one year high of $52.84. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 1.49 and a beta of 0.67. The business has a 50 day simple moving average of $49.38 and a two-hundred day simple moving average of $46.97. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64.

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. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the company earned $0.83 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. Analysts predict that Silgan Holdings Inc. will post 3.66 EPS for the current year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, September 3rd. Silgan’s dividend payout ratio is currently 26.67%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SLGN. Citigroup boosted their target price on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com raised Silgan from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and upped their price target for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Royal Bank of Canada upped their price target on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company upped their price target on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Insider Transactions at Silgan

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the completion of the transaction, the vice president now owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.39% of the company’s stock.

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.