Bridgewater Associates LP Sells 31,805 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Bridgewater Associates LP cut its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 88.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,269 shares of the industrial products company's stock after selling 31,805 shares during the quarter. Bridgewater Associates LP's holdings in Silgan were worth $224,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of Silgan by 256.6% during the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company's stock worth $25,000 after buying an additional 426 shares during the period. GAMMA Investing LLC grew its holdings in Silgan by 109.9% in the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company's stock worth $50,000 after purchasing an additional 613 shares during the period. Venturi Wealth Management LLC grew its holdings in Silgan by 220.4% in the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company's stock worth $74,000 after purchasing an additional 963 shares during the period. Headlands Technologies LLC acquired a new stake in Silgan in the second quarter worth $70,000. Finally, KBC Group NV grew its holdings in Silgan by 27.7% in the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company's stock worth $120,000 after purchasing an additional 494 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLGN has been the subject of a number of research reports. StockNews.com cut shares of Silgan from a "buy" rating to a "hold" rating in a report on Wednesday, October 9th. Royal Bank of Canada lifted their price objective on shares of Silgan from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $57.43.

Silgan Stock Down 0.5 %

Shares of SLGN traded down $0.26 during trading hours on Wednesday, reaching $56.49. 93,851 shares of the stock traded hands, compared to its average volume of 563,274. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $53.10 and a 200 day simple moving average of $49.42. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 1.50 and a beta of 0.69.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings results 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). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The firm 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 business earned $1.16 earnings per share. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. On average, 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 given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.35%. The ex-dividend date is Monday, December 2nd. Silgan's dividend payout ratio is 27.54%.

Silgan 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.