Assenagon Asset Management S.A. Purchases New Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Assenagon Asset Management S.A. bought a new position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 21,947 shares of the industrial products company's stock, valued at approximately $1,142,000.

Several other large investors have also modified their holdings of SLGN. FMR LLC raised its holdings in shares of Silgan by 87.7% during the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company's stock worth $329,619,000 after purchasing an additional 2,932,680 shares during the period. Deprince Race & Zollo Inc. bought a new stake in shares of Silgan during the 2nd quarter valued at about $19,666,000. Weiss Asset Management LP acquired a new stake in Silgan during the third quarter worth about $11,422,000. Two Sigma Advisers LP lifted its holdings in Silgan by 202.3% in the third quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company's stock worth $13,015,000 after acquiring an additional 165,900 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Silgan by 11.7% in the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company's stock valued at $78,509,000 after acquiring an additional 157,160 shares during the period. Institutional investors own 70.25% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Silgan from $58.00 to $63.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Truist Financial upped their price target on shares of Silgan from $63.00 to $69.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. StockNews.com downgraded shares of Silgan from a "buy" rating to a "hold" rating in a research report on Wednesday, October 9th. Finally, Bank of America upped their target price on shares of Silgan from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Silgan presently has a consensus rating of "Moderate Buy" and an average price target of $59.75.

Silgan Price Performance

Shares of NYSE SLGN traded down $0.07 during mid-day trading on Friday, reaching $52.46. 414,517 shares of the company traded hands, compared to its average volume of 401,809. The firm has a market cap of $5.60 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.26 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The stock has a fifty day simple moving average of $53.68 and a 200-day simple moving average of $51.49.

Silgan (NYSE:SLGN - Get Free Report) 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 return on equity of 18.76% and a net margin of 5.11%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm posted $1.16 EPS. The firm's quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts anticipate that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Monday, December 2nd. Silgan's dividend payout ratio is presently 27.54%.

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.