Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 1.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,610,421 shares of the industrial products company's stock after buying an additional 29,565 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.44% of Silgan worth $137,047,000 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 business. Raymond James & Associates increased its position in shares of Silgan by 26.6% in the third quarter. Raymond James & Associates now owns 45,134 shares of the industrial products company's stock valued at $2,370,000 after buying an additional 9,470 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Silgan by 895.1% in the third quarter. Blue Trust Inc. now owns 5,891 shares of the industrial products company's stock worth $309,000 after acquiring an additional 5,299 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Silgan in the third quarter worth approximately $249,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Silgan by 24.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 34,700 shares of the industrial products company's stock worth $1,821,000 after acquiring an additional 6,900 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Silgan by 46.3% in the third quarter. CWM LLC now owns 4,447 shares of the industrial products company's stock worth $233,000 after acquiring an additional 1,408 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SLGN shares. Truist Financial reaffirmed a "buy" rating and issued a $59.00 price target (up from $56.00) on shares of Silgan 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 stock an "outperform" rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their price objective on Silgan from $54.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Finally, Robert W. Baird lifted their target price on Silgan from $53.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Silgan presently has a consensus rating of "Moderate Buy" and an average target price of $57.00.

Silgan Stock Up 1.4 %

NYSE SLGN traded up $0.73 during trading hours on Friday, hitting $52.45. 470,145 shares of the company were exchanged, compared to its average volume of 566,540. The company has a 50 day moving average of $50.97 and a two-hundred day moving average of $47.89. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31. Silgan Holdings Inc. has a 52-week low of $38.11 and a 52-week high of $52.84. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.51 and a beta of 0.67.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. The company 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%. Silgan's revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 EPS. Equities research analysts anticipate 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. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.45%. Silgan's dividend payout ratio is currently 26.67%.

Insider Transactions at Silgan

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

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.