Daiwa Securities Group Inc. Sells 1,038 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Daiwa Securities Group Inc. lessened its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,033 shares of the industrial products company’s stock after selling 1,038 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Silgan were worth $2,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in 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 purchasing an additional 204,384 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Silgan by 1.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock valued at $137,047,000 after purchasing an additional 29,565 shares during the period. Boston Trust Walden Corp grew its stake in 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 purchasing an additional 322,511 shares during the period. Segall Bryant & Hamill LLC grew its stake in Silgan by 0.9% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,278,560 shares of the industrial products company’s stock valued at $67,124,000 after purchasing an additional 11,655 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Silgan by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 832,817 shares of the industrial products company’s stock worth $35,253,000 after acquiring an additional 17,328 shares during the period. Institutional investors own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

SLGN has been the subject of several research reports. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Royal Bank of Canada increased 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 increased their price target on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Wells Fargo & Company increased 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. Finally, Truist Financial reiterated a “buy” rating and set a $59.00 price target (up previously from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.43.

Silgan Stock Performance

Shares of SLGN opened at $57.45 on Friday. The stock’s 50-day simple moving average is $52.64 and its 200 day simple moving average is $49.12. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.50 and a beta of 0.67. 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 Holdings Inc. has a 52-week low of $40.88 and a 52-week high of $58.14.

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

Silgan Dividend Announcement

The firm 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 $0.19 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.32%. Silgan’s payout ratio is currently 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.