Eagle Asset Management Inc. Increases Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Eagle Asset Management Inc. increased its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 40.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,022 shares of the industrial products company's stock after acquiring an additional 49,111 shares during the period. Eagle Asset Management Inc. owned about 0.16% of Silgan worth $9,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake 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 valued at $59,462,000 after purchasing an additional 598,472 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in shares of Silgan in the second quarter valued at $19,666,000. Boston Trust Walden Corp boosted its holdings in Silgan by 20.6% in the second 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 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 worth $125,404,000 after purchasing an additional 204,384 shares in the last quarter. Finally, SG Capital Management LLC purchased a new stake in Silgan during the 1st quarter worth about $8,584,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Stock Performance

Shares of NYSE SLGN traded up $0.93 during trading hours on Friday, reaching $56.53. The stock had a trading volume of 544,771 shares, compared to its average volume of 628,878. The firm has a 50-day moving average of $52.29 and a 200-day moving average of $48.91. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.46 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 Holdings Inc. has a fifty-two week low of $40.88 and a fifty-two week high of $56.78.

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

Silgan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.34%. Silgan's dividend payout ratio is currently 27.54%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised Silgan from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. Royal Bank of Canada raised their price objective on shares of Silgan from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, November 1st. StockNews.com downgraded shares of Silgan from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th. Citigroup lifted their price target on Silgan from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price objective on Silgan from $54.00 to $58.00 and gave the company an "overweight" rating 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.