Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. reduced its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 2.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 78,827 shares of the industrial products company’s stock after selling 2,041 shares during the period. Dana Investment Advisors Inc.’s holdings in Silgan were worth $3,337,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its position in Silgan by 118.0% during the first quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company’s stock worth $9,755,000 after purchasing an additional 108,942 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Silgan by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock worth $125,404,000 after buying an additional 204,384 shares during the period. Choreo LLC acquired a new position in shares of Silgan during the 2nd quarter worth approximately $498,000. Seven Eight Capital LP purchased a new position in shares of Silgan during the 1st quarter valued at approximately $1,129,000. Finally, State Board of Administration of Florida Retirement System grew its stake in Silgan by 17.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock valued at $4,769,000 after acquiring an additional 13,289 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the business’s stock in a transaction dated 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 directly owns 11,495 shares in the company, valued at approximately $563,714.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.39% of the stock is owned by company insiders.

Silgan Stock Down 1.0 %

SLGN stock opened at $51.98 on Wednesday. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.50 and a beta of 0.67. The firm has a 50-day moving average of $50.36 and a two-hundred day moving average of $47.44. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $52.84. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31.

Silgan (NYSE:SLGN) last announced its quarterly earnings data 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 firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. As a group, analysts forecast that Silgan Holdings Inc. will post 3.66 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Tuesday, September 3rd. Silgan’s dividend payout ratio is currently 26.67%.

Wall Street Analysts Forecast Growth

SLGN has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. StockNews.com raised shares of Silgan from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Truist Financial reiterated a “buy” rating and issued a $59.00 price objective (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Robert W. Baird increased their target price on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada lifted their price target on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.00.

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.