State of New Jersey Common Pension Fund D Trims Holdings in Silgan Holdings Inc. (NYSE:SLGN)

State of New Jersey Common Pension Fund D cut its stake in Silgan Holdings Inc. (NYSE:SLGN) by 6.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,629 shares of the industrial products company’s stock after selling 2,637 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Silgan were worth $2,028,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Blue Trust Inc. increased its position in Silgan by 256.6% during the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 426 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Silgan by 2,838.5% in the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 1,107 shares during the last quarter. GAMMA Investing LLC grew its position in Silgan by 109.9% in the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 613 shares during the period. Covestor Ltd increased its stake in Silgan by 69.7% during the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 462 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Silgan in the second quarter valued at $70,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SLGN. Citigroup increased 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. StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada upped their price objective on shares of Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Robert W. Baird lifted their target price on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company upped their price target on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Silgan presently has a consensus rating of “Moderate Buy” and an average target price of $57.43.

Silgan Stock Performance

NYSE:SLGN opened at $53.55 on Friday. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 1.44 and a beta of 0.67. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 52 week low of $40.88 and a 52 week high of $55.32. The company has a fifty day simple moving average of $51.78 and a two-hundred day simple moving average of $48.59.

Silgan (NYSE:SLGN) last issued 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). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the company earned $1.16 EPS. Silgan’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, December 2nd. Silgan’s dividend payout ratio (DPR) is presently 27.54%.

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.