Allspring Global Investments Holdings LLC Trims Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Allspring Global Investments Holdings LLC decreased its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,479,642 shares of the industrial products company's stock after selling 130,779 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.32% of Silgan worth $126,586,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company's stock valued at $74,000 after purchasing an additional 963 shares during the period. GAMMA Investing LLC raised its position in shares of Silgan by 51.8% in the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company's stock valued at $93,000 after buying an additional 606 shares in the last quarter. KBC Group NV boosted its stake in shares of Silgan by 27.7% in the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company's stock valued at $120,000 after buying an additional 494 shares during the period. Point72 Asset Management L.P. acquired a new stake in Silgan during the third quarter worth approximately $154,000. Finally, Stifel Financial Corp bought a new position in Silgan during the 3rd quarter worth $203,000. Institutional investors and hedge funds own 70.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Raymond James upped their target price on Silgan from $62.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Royal Bank of Canada increased their price objective on shares of Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Wells Fargo & Company boosted their target price on shares of Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Robert W. Baird increased their price target on shares of Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.22.

Silgan Stock Performance

Shares of Silgan stock traded down $0.64 during trading hours on Wednesday, hitting $52.33. 456,844 shares of the company's stock traded hands, compared to its average volume of 665,102. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.24 and a beta of 0.71. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. The company has a fifty day simple moving average of $53.20 and a 200-day simple moving average of $52.35.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. Equities research analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

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.