Amalgamated Bank Sells 12,330 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Amalgamated Bank lessened its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 24.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 38,824 shares of the industrial products company's stock after selling 12,330 shares during the period. Amalgamated Bank's holdings in Silgan were worth $2,038,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SLGN. QRG Capital Management Inc. grew its holdings in Silgan by 17.1% in the third quarter. QRG Capital Management Inc. now owns 26,273 shares of the industrial products company's stock worth $1,379,000 after purchasing an additional 3,832 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of Silgan by 7.6% during the 3rd quarter. New York State Teachers Retirement System now owns 106,539 shares of the industrial products company's stock worth $5,593,000 after purchasing an additional 7,480 shares during the period. Bernzott Capital Advisors boosted its position in shares of Silgan by 0.5% during the 3rd quarter. Bernzott Capital Advisors now owns 155,227 shares of the industrial products company's stock worth $8,149,000 after purchasing an additional 775 shares during the period. State of Alaska Department of Revenue boosted its position in Silgan by 0.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 248,943 shares of the industrial products company's stock valued at $13,069,000 after buying an additional 635 shares during the period. Finally, GHP Investment Advisors Inc. boosted its position in Silgan by 1.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 122,572 shares of the industrial products company's stock valued at $6,435,000 after buying an additional 1,649 shares during the period. Institutional investors own 70.25% of the company's stock.

Analyst Ratings Changes

SLGN has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on Silgan from $54.00 to $58.00 and gave the stock an "overweight" rating in a research report on Thursday, August 1st. Royal Bank of Canada lifted their price objective on Silgan from $55.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Truist Financial reissued 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. JPMorgan Chase & Co. upgraded Silgan from an "underweight" rating to a "neutral" rating and raised their target price for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Finally, Citigroup increased their price target on Silgan from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Silgan has a consensus rating of "Moderate Buy" and a consensus target price of $57.43.

Silgan Price Performance

Shares of NYSE SLGN traded up $0.53 during midday trading on Tuesday, hitting $54.60. 350,628 shares of the company's stock were exchanged, compared to its average volume of 562,759. The company has a current ratio of 0.52, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31. Silgan Holdings Inc. has a 12-month low of $40.01 and a 12-month high of $55.24. The business's fifty day moving average price is $51.50 and its two-hundred day moving average price is $48.40. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 1.40 and a beta of 0.67.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 earnings per share. As a group, research analysts forecast that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued 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 dividend yield of 1.39%. Silgan's dividend payout ratio is 27.54%.

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.