New York State Teachers Retirement System Increases Position in Silgan Holdings Inc. (NYSE:SLGN)

New York State Teachers Retirement System boosted its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 7.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,539 shares of the industrial products company’s stock after purchasing an additional 7,480 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Silgan worth $5,593,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB lifted its position 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 buying an additional 108,942 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Silgan by 7.4% during 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 in the last quarter. Choreo LLC acquired a new stake in shares of Silgan in the second quarter valued at about $498,000. Seven Eight Capital LP acquired a new stake in shares of Silgan in the first quarter valued at about $1,129,000. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Silgan by 17.6% during 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 purchasing an additional 13,289 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SLGN shares. Wells Fargo & Company lifted their price objective on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada increased their price objective on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird lifted their target price on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and increased their target price for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. 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, Silgan presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan Trading Up 0.1 %

Shares of SLGN opened at $53.10 on Wednesday. Silgan Holdings Inc. has a 12-month low of $40.01 and a 12-month high of $53.72. The firm has a market capitalization of $5.67 billion, a P/E ratio of 19.24, a P/E/G ratio of 1.38 and a beta of 0.67. The firm has a 50-day moving average price of $51.30 and a 200 day moving average price of $48.17. The company has a current ratio of 0.52, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31.

Silgan (NYSE:SLGN) last posted its quarterly earnings results 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). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the company earned $1.16 EPS. Sell-side analysts forecast that Silgan Holdings Inc. will post 3.6 EPS for the current year.

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.