Bridgewater Associates LP Sells 31,805 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Bridgewater Associates LP lessened its stake in Silgan Holdings Inc. (NYSE:SLGN) by 88.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,269 shares of the industrial products company’s stock after selling 31,805 shares during the quarter. Bridgewater Associates LP’s holdings in Silgan were worth $224,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC raised its holdings in Silgan by 87.7% during the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock worth $329,619,000 after purchasing an additional 2,932,680 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new position in Silgan in the second quarter valued at approximately $19,666,000. Boston Trust Walden Corp boosted its stake in Silgan by 20.6% in the second quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock valued at $79,776,000 after acquiring an additional 322,511 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 acquiring an additional 204,384 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Silgan by 6.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company’s stock valued at $109,248,000 after acquiring an additional 163,853 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Trading Down 0.8 %

NYSE SLGN opened at $56.75 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. The stock’s 50-day moving average is $52.99 and its 200-day moving average is $49.35. Silgan Holdings Inc. has a one year low of $41.14 and a one year high of $58.14. The firm has a market cap of $6.06 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.50 and a beta of 0.69.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm posted $1.16 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Sell-side analysts anticipate that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Monday, December 2nd. Silgan’s dividend payout ratio (DPR) is presently 27.54%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SLGN. Royal Bank of Canada raised their price target on Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock 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.