Silgan Holdings Inc. (NYSE:SLGN) Holdings Reduced by Duality Advisers LP

Duality Advisers LP cut its stake in Silgan Holdings Inc. (NYSE:SLGN – Get Rating) by 80.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,009 shares of the industrial products company’s stock after selling 33,994 shares during the period. Duality Advisers LP’s holdings in Silgan were worth $337,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Silgan by 0.9% in the first quarter. Vanguard Group Inc. now owns 8,657,331 shares of the industrial products company’s stock valued at $400,228,000 after acquiring an additional 77,304 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Silgan by 2.6% during the second quarter. JPMorgan Chase & Co. now owns 4,849,746 shares of the industrial products company’s stock worth $200,537,000 after buying an additional 125,121 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Silgan by 25.1% during the third quarter. Victory Capital Management Inc. now owns 3,542,554 shares of the industrial products company’s stock worth $148,929,000 after buying an additional 710,654 shares in the last quarter. State Street Corp boosted its holdings in Silgan by 5.2% during the first quarter. State Street Corp now owns 2,327,760 shares of the industrial products company’s stock worth $107,612,000 after buying an additional 114,449 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Silgan by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,315,372 shares of the industrial products company’s stock worth $107,040,000 after buying an additional 16,717 shares in the last quarter. 68.21% of the stock is currently owned by institutional investors.

Silgan Stock Up 0.8 %

Silgan stock opened at $50.79 on Wednesday. The company has a market capitalization of $5.59 billion, a P/E ratio of 14.11, a P/E/G ratio of 2.66 and a beta of 0.81. The firm’s fifty day simple moving average is $52.26 and its 200-day simple moving average is $47.79. The company has a current ratio of 1.39, a quick ratio of 0.88 and a debt-to-equity ratio of 1.92. Silgan Holdings Inc. has a 1-year low of $38.59 and a 1-year high of $54.59.

Silgan (NYSE:SLGN – Get Rating) last released its quarterly earnings results on Wednesday, October 26th. The industrial products company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.05. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.85 billion. Silgan had a net margin of 6.27% and a return on equity of 26.81%. Sell-side analysts forecast that Silgan Holdings Inc. will post 3.96 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.26%. Silgan’s payout ratio is presently 17.78%.

Wall Street Analyst Weigh In

SLGN has been the subject of a number of research reports. Royal Bank of Canada raised their target price on shares of Silgan from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, October 28th. Truist Financial upgraded shares of Silgan from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Thursday, January 5th. KeyCorp upped their price target on shares of Silgan from $49.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, December 15th. StockNews.com assumed coverage on shares of Silgan in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company upped their price target on shares of Silgan from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, January 9th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.50.

Silgan Profile

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Silgan Holdings, Inc engages in the manufacture and sale of rigid packaging for consumer goods products. It operates through the following business segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers dispensing and specialty closures for food, beverage, health care, garden, home, personal care, fragrance, and beauty products.