Ontario Teachers Pension Plan Board Takes $1.04 Million Position in Silgan Holdings Inc. (NYSE:SLGN)

Ontario Teachers Pension Plan Board bought a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 19,860 shares of the industrial products company's stock, valued at approximately $1,043,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Silgan by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company's stock valued at $125,404,000 after purchasing an additional 204,384 shares during the period. Choreo LLC purchased a new stake in Silgan during the 2nd quarter worth $498,000. Allspring Global Investments Holdings LLC lifted its holdings in 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 worth $109,248,000 after buying an additional 163,853 shares in the last quarter. Nicola Wealth Management LTD. boosted its position in Silgan by 24.4% in the 3rd quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company's stock valued at $5,087,000 after buying an additional 19,000 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in shares of Silgan during the first quarter valued at about $269,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Stock Performance

Shares of Silgan stock traded up $0.87 during trading hours on Thursday, reaching $55.64. The company's stock had a trading volume of 516,814 shares, compared to its average volume of 567,313. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. Silgan Holdings Inc. has a one year low of $40.88 and a one year high of $55.91. The company's 50 day simple moving average is $52.17 and its 200 day simple moving average is $48.83. The stock has a market cap of $5.94 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 1.42 and a beta of 0.67.

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

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid 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 1.37%. Silgan's payout ratio is 27.54%.

Wall Street Analyst Weigh In

Several research firms recently commented on SLGN. Royal Bank of Canada boosted their price target on Silgan from $55.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upgraded Silgan from an "underweight" rating to a "neutral" rating and increased their target price for the company from $46.00 to $53.00 in a research note on Thursday, August 1st. Truist Financial restated a "buy" rating and issued a $59.00 price target (up previously from $56.00) on shares of Silgan in a research note on Thursday, August 1st. StockNews.com lowered shares of Silgan from a "buy" rating to a "hold" rating in a report on Wednesday, October 9th. Finally, Citigroup upped their target price on shares of Silgan from $50.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six 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 $57.43.

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.