Quest Partners LLC Trims Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Quest Partners LLC trimmed its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 35.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 33,271 shares of the industrial products company's stock after selling 18,592 shares during the period. Quest Partners LLC's holdings in Silgan were worth $1,747,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SLGN. Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 204,384 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in 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 worth $137,047,000 after acquiring an additional 29,565 shares during the last quarter. Boston Trust Walden Corp raised 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 acquiring an additional 322,511 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Silgan by 95.6% in the 1st 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. Finally, Bank of New York Mellon Corp grew its position in Silgan by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 832,817 shares of the industrial products company's stock worth $35,253,000 after purchasing an additional 17,328 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Stock Up 0.2 %

NYSE:SLGN traded up $0.09 during midday trading on Tuesday, reaching $54.29. 686,769 shares of the stock traded hands, compared to its average volume of 565,812. The business has a 50-day moving average of $51.86 and a two-hundred day moving average of $48.68. The stock has a market capitalization of $5.80 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.40 and a beta of 0.67. Silgan Holdings Inc. has a 12-month low of $40.88 and a 12-month high of $55.32. 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 (NYSE:SLGN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (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 analysts' expectations of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 EPS. On average, equities analysts forecast that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.40%. Silgan's payout ratio is presently 27.54%.

Analysts Set New Price Targets

A number of equities research analysts have commented on SLGN shares. 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 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 Wednesday, October 9th. JPMorgan Chase & Co. raised shares of Silgan from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Royal Bank of Canada boosted their price objective on shares of Silgan from $55.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Truist Financial reissued a "buy" rating and set a $59.00 price objective (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Silgan has an average rating of "Moderate Buy" and a consensus target price of $57.43.

About Silgan

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.