Principal Financial Group Inc. Sells 82,449 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Principal Financial Group Inc. lowered its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 30.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 188,063 shares of the industrial products company's stock after selling 82,449 shares during the period. Principal Financial Group Inc. owned about 0.18% of Silgan worth $9,873,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SLGN. Janus Henderson Group PLC raised its holdings in Silgan by 95.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company's stock valued at $59,462,000 after buying an additional 598,472 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in shares of Silgan in the second quarter worth about $19,666,000. Boston Trust Walden Corp lifted its holdings in Silgan by 20.6% in 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 period. Dimensional Fund Advisors LP grew its position in shares of Silgan by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company's stock worth $125,404,000 after buying an additional 204,384 shares during the last quarter. Finally, SG Capital Management LLC purchased a new position in shares of Silgan during the first quarter valued at approximately $8,584,000. 70.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SLGN has been the subject of several research reports. Truist Financial restated a "buy" rating and issued a $59.00 price objective (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an "underweight" rating to a "neutral" rating and raised their target price for the company from $46.00 to $53.00 in a research note on Thursday, August 1st. Royal Bank of Canada increased their price objective on Silgan from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Wells Fargo & Company boosted their price objective on shares of Silgan from $54.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Finally, Robert W. Baird lifted 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.43.

Silgan Price Performance

Silgan stock traded up $0.40 during midday trading on Tuesday, reaching $54.60. 242,246 shares of the stock traded hands, compared to its average volume of 563,828. The stock has a market cap of $5.83 billion, a P/E ratio of 19.66, a PEG ratio of 1.40 and a beta of 0.67. The stock's fifty day moving average is $51.86 and its 200-day moving average is $48.68. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 12 month low of $40.88 and a 12 month high of $55.32.

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

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Monday, December 2nd. Silgan's dividend payout ratio is presently 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.