Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 19.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,138,858 shares of the industrial products company's stock after selling 1,243,179 shares during the quarter. JPMorgan Chase & Co. owned approximately 4.81% of Silgan worth $269,790,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of Silgan in the second quarter valued at approximately $70,000. Venturi Wealth Management LLC lifted its position 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 valued at $74,000 after buying an additional 963 shares during the last quarter. GAMMA Investing LLC boosted its stake in Silgan by 51.8% during the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company's stock worth $93,000 after buying an additional 606 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Silgan during the second quarter valued at about $104,000. Finally, KBC Group NV raised its stake in shares of Silgan by 27.7% in the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company's stock valued at $120,000 after acquiring an additional 494 shares during the period. Hedge funds and other institutional investors own 70.25% of the company's stock.

Silgan Stock Up 0.6 %

Shares of SLGN stock traded up $0.32 during trading hours on Tuesday, reaching $52.05. 422,252 shares of the stock were exchanged, compared to its average volume of 592,865. The business's fifty day moving average is $54.00 and its two-hundred day moving average is $50.44. The firm has a market capitalization of $5.56 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.44 and a beta of 0.69. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. 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 EPS 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 analysts' expectations of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share. As a group, research analysts expect that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.46%. Silgan's dividend payout ratio is currently 27.54%.

Analysts Set New Price Targets

SLGN has been the topic of a number of research analyst reports. StockNews.com lowered Silgan from a "buy" rating to a "hold" rating in a research report on Wednesday, October 9th. Royal Bank of Canada lifted their price objective on Silgan from $58.00 to $63.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $58.14.

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.