Ontario Teachers Pension Plan Board Buys Shares of 19,860 Silgan Holdings Inc. (NYSE:SLGN)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Silgan by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company's stock valued at $125,404,000 after acquiring an additional 204,384 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Silgan by 1.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company's stock valued at $137,047,000 after buying an additional 29,565 shares during the period. Boston Trust Walden Corp increased its holdings in shares of Silgan by 20.6% during the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company's stock worth $79,776,000 after buying an additional 322,511 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings in 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 acquiring an additional 11,655 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Silgan by 95.6% during the first quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company's stock worth $59,462,000 after acquiring an additional 598,472 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Analysts Set New Price Targets

SLGN has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on Silgan from $54.00 to $58.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. Citigroup lifted their price target on shares of Silgan from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Royal Bank of Canada upped their price objective on shares of Silgan from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Truist Financial reiterated a "buy" rating and issued a $59.00 target price (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. Finally, StockNews.com cut Silgan from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Silgan has an average rating of "Moderate Buy" and a consensus target price of $57.43.

Silgan Stock Up 0.9 %

Shares of Silgan stock traded up $0.50 on Thursday, reaching $55.27. 65,747 shares of the company were exchanged, compared to its average volume of 564,547. The stock's 50 day moving average price is $52.05 and its 200-day moving average price is $48.78. The company has a market cap of $5.90 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 1.42 and a beta of 0.67. Silgan Holdings Inc. has a 1-year low of $40.88 and a 1-year high of $55.32. 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 (NYSE:SLGN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). The firm 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%. Silgan's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 earnings per share. As a group, equities analysts forecast that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Dividend Announcement

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 1.38%. Silgan's payout ratio is currently 27.54%.

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.