State of New Jersey Common Pension Fund D Sells 19,756 Shares of Silgan Holdings Inc. (NYSE:SLGN)

State of New Jersey Common Pension Fund D lowered its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 32.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 41,266 shares of the industrial products company's stock after selling 19,756 shares during the period. State of New Jersey Common Pension Fund D's holdings in Silgan were worth $1,747,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB boosted its stake in Silgan by 118.0% during the first quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company's stock worth $9,755,000 after buying an additional 108,942 shares in the last quarter. Choreo LLC acquired a new position in Silgan in the second quarter worth about $498,000. Seven Eight Capital LP bought a new position in Silgan during the first quarter worth about $1,129,000. State Board of Administration of Florida Retirement System boosted its holdings in Silgan by 17.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company's stock valued at $4,769,000 after purchasing an additional 13,289 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Silgan by 6.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company's stock valued at $109,248,000 after purchasing an additional 163,853 shares during the period. Institutional investors own 70.25% of the company's stock.

Silgan Price Performance

SLGN traded down $0.41 during midday trading on Wednesday, hitting $50.82. The company had a trading volume of 436,150 shares, compared to its average volume of 574,308. Silgan Holdings Inc. has a twelve month low of $38.11 and a twelve month high of $52.84. The company has a market capitalization of $5.43 billion, a PE ratio of 18.00, a P/E/G ratio of 1.49 and a beta of 0.67. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06. The firm's 50-day simple moving average is $49.76 and its 200-day simple moving average is $47.19.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The business's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. Equities research analysts predict that Silgan Holdings Inc. will post 3.66 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.50%. Silgan's payout ratio is 26.67%.

Insiders Place Their Bets

In other news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.39% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wells Fargo & Company boosted their price target on Silgan from $54.00 to $58.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Robert W. Baird upped their target price on shares of Silgan from $53.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, August 1st. StockNews.com upgraded shares of Silgan from a "hold" rating to a "buy" rating in a research report on Friday, September 20th. JPMorgan Chase & Co. upgraded shares of Silgan from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Finally, Royal Bank of Canada raised their price objective on shares of Silgan from $51.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $57.00.

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.