Quest Partners LLC Raises Position in Silgan Holdings Inc. (NYSE:SLGN)

Quest Partners LLC boosted its position in Silgan Holdings Inc. (NYSE:SLGN) by 156.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,863 shares of the industrial products company’s stock after purchasing an additional 31,612 shares during the period. Quest Partners LLC’s holdings in Silgan were worth $2,195,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Silgan by 5.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock worth $218,000 after acquiring an additional 250 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Silgan by 0.3% in the first quarter. Retirement Systems of Alabama now owns 101,639 shares of the industrial products company’s stock valued at $4,936,000 after purchasing an additional 268 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Silgan by 4.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,686 shares of the industrial products company’s stock valued at $303,000 after buying an additional 275 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in Silgan by 4.6% in the 1st quarter. Verdence Capital Advisors LLC now owns 7,013 shares of the industrial products company’s stock worth $341,000 after buying an additional 306 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in Silgan by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 37,043 shares of the industrial products company’s stock worth $1,676,000 after buying an additional 360 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analyst Ratings Changes

SLGN has been the topic of several recent research reports. Royal Bank of Canada raised their price target on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their target price on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Citigroup lifted their target price on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Truist Financial reissued a “buy” rating and issued a $59.00 price target (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Finally, Robert W. Baird boosted their price objective on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Silgan presently has an average rating of “Moderate Buy” and an average target price of $57.00.

Insider Activity at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares of the company’s stock, valued at $563,714.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.39% of the stock is owned by insiders.

Silgan Stock Performance

NYSE:SLGN opened at $50.48 on Monday. The stock has a market cap of $5.39 billion, a P/E ratio of 17.71, a PEG ratio of 1.47 and a beta of 0.67. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31. The business’s 50-day moving average price is $47.85 and its two-hundred day moving average price is $46.61. Silgan Holdings Inc. has a twelve month low of $38.11 and a twelve month high of $52.84.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.01. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business posted $0.83 earnings per share. Silgan’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts predict that Silgan Holdings Inc. will post 3.66 EPS for the current fiscal year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $0.19 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 1.51%. Silgan’s dividend payout ratio (DPR) is presently 26.67%.

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.