Silgan Holdings Inc. (NYSE:SLGN) Shares Acquired by Caprock Group LLC

Caprock Group LLC increased its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,725 shares of the industrial products company’s stock after acquiring an additional 698 shares during the quarter. Caprock Group LLC’s holdings in Silgan were worth $458,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLGN. Blue Trust Inc. grew its holdings in Silgan by 256.6% in the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after buying an additional 426 shares during the period. Versant Capital Management Inc grew 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 purchasing an additional 1,107 shares during the period. GAMMA Investing LLC increased its position in Silgan by 109.9% during the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 613 shares during the last quarter. Headlands Technologies LLC purchased a new position in Silgan during the second quarter worth approximately $70,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 963 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Silgan Stock Performance

Shares of NYSE:SLGN opened at $56.53 on Friday. The company has a market cap of $6.04 billion, a P/E ratio of 20.48, a PEG ratio of 1.46 and a beta of 0.67. Silgan Holdings Inc. has a one year low of $40.88 and a one year high of $56.78. The business’s 50-day simple moving average is $52.29 and its 200 day simple moving average is $48.91. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm had revenue of $1.75 billion for 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 company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 EPS. On average, sell-side analysts forecast that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.34%. Silgan’s dividend payout ratio is presently 27.54%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SLGN. Wells Fargo & Company upped 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. Royal Bank of Canada upped their price target on Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird raised their price objective on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, Citigroup raised their price target on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.43.

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.