Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC raised its holdings in shares of Silgan by 95.6% in the first quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock worth $59,462,000 after buying an additional 598,472 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in Silgan in the 2nd quarter worth $19,666,000. Boston Trust Walden Corp lifted its position in Silgan by 20.6% during the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock worth $79,776,000 after acquiring an additional 322,511 shares during the period. Dimensional Fund Advisors LP grew its stake 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 valued at $125,404,000 after purchasing an additional 204,384 shares during the last quarter. Finally, SG Capital Management LLC acquired a new position in shares of Silgan in the first quarter valued at about $8,584,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SLGN shares. Citigroup upped their target price on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada boosted their target price on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research report 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 report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $46.00 to $53.00 in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan Price Performance

NYSE:SLGN opened at $53.55 on Friday. 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 stock’s 50-day moving average price is $51.78 and its 200-day moving average price is $48.59. The stock has a market capitalization of $5.72 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.44 and a beta of 0.67.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 EPS 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 business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts expect that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Dividend Announcement

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

Silgan Company Profile

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.