FMR LLC raised its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 87.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,278,456 shares of the industrial products company's stock after acquiring an additional 2,932,680 shares during the period. FMR LLC owned approximately 5.88% of Silgan worth $329,619,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dynamic Technology Lab Private Ltd grew its stake in shares of Silgan by 32.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 16,578 shares of the industrial products company's stock valued at $870,000 after buying an additional 4,079 shares in the last quarter. Eagle Asset Management Inc. grew its position in Silgan by 40.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 171,022 shares of the industrial products company's stock valued at $9,174,000 after acquiring an additional 49,111 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Silgan by 13.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 815,468 shares of the industrial products company's stock worth $42,812,000 after purchasing an additional 97,381 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in shares of Silgan during the third quarter worth about $1,043,000. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of Silgan by 0.9% in the third quarter. Segall Bryant & Hamill LLC now owns 1,278,560 shares of the industrial products company's stock valued at $67,124,000 after purchasing an additional 11,655 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.
Silgan Stock Up 0.1 %
Shares of Silgan stock traded up $0.08 during trading on Friday, hitting $57.53. 329,958 shares of the stock were exchanged, compared to its average volume of 616,098. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 1.51 and a beta of 0.67. The firm's 50-day moving average price is $52.87 and its 200 day moving average price is $49.26. 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 12-month low of $41.07 and a 12-month high of $58.14.
Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) 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 period in the prior year, the company posted $1.16 earnings per share. The company's revenue was down 3.2% compared to the same quarter last year. As a group, analysts forecast that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.
Silgan Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.32%. Silgan's payout ratio is currently 27.54%.
Analyst Ratings Changes
A number of research firms have issued reports on SLGN. Royal Bank of Canada increased their target price on shares of Silgan from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. StockNews.com lowered Silgan from a "buy" rating to a "hold" rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Silgan has a consensus rating of "Moderate Buy" and a consensus price target of $57.43.
View Our Latest Stock Report on SLGN
Silgan Profile
(
Free Report)
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.
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