Swiss National Bank Cuts Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Swiss National Bank decreased its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 166,800 shares of the industrial products company’s stock after selling 800 shares during the period. Swiss National Bank’s holdings in Silgan were worth $8,757,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 in the last quarter. Boston Trust Walden Corp boosted its stake in shares of 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 in the last quarter. Janus Henderson Group PLC raised its holdings in Silgan by 95.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock valued at $59,462,000 after buying an additional 598,472 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in 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 valued at $35,253,000 after buying an additional 17,328 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Silgan Stock Up 1.0 %

Shares of NYSE SLGN opened at $57.12 on Tuesday. Silgan Holdings Inc. has a 12 month low of $40.88 and a 12 month high of $57.61. The firm has a fifty day simple moving average of $52.40 and a two-hundred day simple moving average of $49.00. The firm has a market capitalization of $6.10 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.48 and a beta of 0.67. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24.

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

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 1.33%. The ex-dividend date is Monday, December 2nd. Silgan’s payout ratio is presently 27.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SLGN shares. Truist Financial reiterated a “buy” rating and set a $59.00 price target (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Citigroup upped their price target on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their price target on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada upped their price target on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan 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.