Victory Capital Management Inc. Sells 183,184 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Victory Capital Management Inc. cut its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 7.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,130,496 shares of the industrial products company's stock after selling 183,184 shares during the period. Victory Capital Management Inc. owned 2.00% of Silgan worth $111,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in Silgan by 256.6% during the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company's stock worth $25,000 after acquiring an additional 426 shares during the period. Versant Capital Management Inc increased its stake in Silgan by 2,838.5% in the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 1,107 shares in the last quarter. GAMMA Investing LLC raised 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. Covestor Ltd grew its holdings in shares of Silgan by 69.7% in the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company's stock valued at $55,000 after buying an additional 462 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Silgan during the 2nd quarter worth $70,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Silgan Stock Performance

SLGN stock traded up $0.61 during trading hours on Wednesday, reaching $55.13. The stock had a trading volume of 921,159 shares, compared to its average volume of 565,455. The stock has a 50-day simple moving average of $51.64 and a 200 day simple moving average of $48.50. Silgan Holdings Inc. has a fifty-two week low of $40.88 and a fifty-two week high of $55.32. The stock has a market capitalization of $5.89 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. 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 issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $1.16 earnings per share. Analysts predict that Silgan Holdings Inc. will post 3.6 EPS 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 paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Monday, December 2nd. Silgan's dividend payout ratio (DPR) is presently 27.54%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SLGN. Citigroup raised 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. Wells Fargo & Company raised their price objective on shares of Silgan from $54.00 to $58.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. Robert W. Baird upped their target price on shares of Silgan from $53.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. Truist Financial reissued a "buy" rating and issued a $59.00 price target (up previously from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Finally, StockNews.com cut Silgan from a "buy" rating to a "hold" rating in a research report on Wednesday, October 9th. 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, Silgan currently has an average rating of "Moderate Buy" and a consensus price target 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.