Silgan Holdings Inc. (NYSE:SLGN) Stock Holdings Increased by Millennium Management LLC

Millennium Management LLC boosted its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 62.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 322,482 shares of the industrial products company's stock after acquiring an additional 124,020 shares during the quarter. Millennium Management LLC owned about 0.30% of Silgan worth $13,651,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its holdings in Silgan by 0.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company's stock valued at $1,696,000 after purchasing an additional 218 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Silgan by 5.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company's stock worth $218,000 after acquiring an additional 250 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Silgan by 2.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company's stock valued at $453,000 after purchasing an additional 267 shares during the last quarter. Retirement Systems of Alabama grew its stake in Silgan by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 101,639 shares of the industrial products company's stock valued at $4,936,000 after purchasing an additional 268 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Silgan by 1.1% during the 2nd quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company's stock worth $1,594,000 after purchasing an additional 421 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Insider Transactions at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the business's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the sale, the vice president now directly owns 11,495 shares in the company, valued at approximately $563,714.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.39% of the company's stock.

Analyst Upgrades and Downgrades

SLGN has been the subject of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Silgan from $53.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, August 1st. StockNews.com downgraded shares of Silgan from a "buy" rating to a "hold" rating in a research report on Thursday. JPMorgan Chase & Co. upgraded shares of Silgan from an "underweight" rating to a "neutral" rating and upped their target price for the company from $46.00 to $53.00 in a research note on Thursday, August 1st. Royal Bank of Canada boosted their price objective on Silgan from $51.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, August 1st. Finally, Truist Financial reaffirmed a "buy" rating and set a $59.00 target price (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.00.

Silgan Stock Performance

Shares of NYSE SLGN traded down $0.51 during mid-day trading on Monday, hitting $51.01. The company had a trading volume of 483,708 shares, compared to its average volume of 573,151. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $52.84. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 1.50 and a beta of 0.67. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64. The firm's 50 day simple moving average is $50.62 and its two-hundred day simple moving average is $47.58.

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

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, September 3rd. Silgan's dividend payout ratio (DPR) is 26.67%.

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.