Silgan Holdings Inc. (NYSE:SLGN) Sees Significant Growth in Short Interest

Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 2,390,000 shares, an increase of 16.0% from the November 15th total of 2,060,000 shares. Currently, 2.8% of the company's stock are short sold. Based on an average daily trading volume, of 540,700 shares, the days-to-cover ratio is presently 4.4 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on Silgan from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. StockNews.com cut Silgan from a "buy" rating to a "hold" rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $57.43.

Silgan Stock Up 0.2 %

Shares of NYSE:SLGN traded up $0.13 during mid-day trading on Friday, hitting $54.82. 439,697 shares of the company traded hands, compared to its average volume of 567,493. The stock has a 50-day moving average price of $53.72 and a two-hundred day moving average price of $49.88. The stock has a market cap of $5.85 billion, a P/E ratio of 19.86, a P/E/G ratio of 1.44 and a beta of 0.69. Silgan has a 12-month low of $41.14 and a 12-month high of $58.14. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN - Get Free Report) last issued 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 business 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 business's revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. On average, equities research analysts forecast that Silgan will post 3.6 earnings per share for the current year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.39%. Silgan's payout ratio is presently 27.54%.

Institutional Trading of Silgan

Several hedge funds have recently made changes to their positions in SLGN. Blue Trust Inc. raised its stake in shares of Silgan by 256.6% during the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 426 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Silgan by 220.4% in the 3rd 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 in the last quarter. Headlands Technologies LLC purchased a new position in shares of Silgan in the 2nd quarter worth about $70,000. GAMMA Investing LLC boosted its holdings in shares of Silgan by 51.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company's stock worth $93,000 after purchasing an additional 606 shares in the last quarter. Finally, KBC Group NV boosted its holdings 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 worth $120,000 after purchasing an additional 494 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Silgan Company 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.