Raymond James & Associates Increases Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Raymond James & Associates increased its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 26.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 45,134 shares of the industrial products company's stock after buying an additional 9,470 shares during the quarter. Raymond James & Associates' holdings in Silgan were worth $2,370,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLGN. Dimensional Fund Advisors LP increased its position in shares of Silgan by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company's stock valued at $125,404,000 after buying an additional 204,384 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Silgan by 6.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company's stock valued at $109,248,000 after buying an additional 163,853 shares during the period. Boston Trust Walden Corp increased its position in shares of Silgan by 20.6% during the second quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company's stock valued at $79,776,000 after buying an additional 322,511 shares during the period. Janus Henderson Group PLC increased its position in shares of Silgan by 95.6% during the first quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company's stock valued at $59,462,000 after buying an additional 598,472 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Silgan by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 832,817 shares of the industrial products company's stock valued at $35,253,000 after buying an additional 17,328 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on SLGN shares. Truist Financial restated a "buy" rating and issued a $59.00 price objective (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Robert W. Baird upped their price objective on shares of Silgan from $53.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, August 1st. Citigroup upped their price objective on shares of Silgan from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Royal Bank of Canada upped their price objective on shares of Silgan from $55.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upgraded shares of Silgan from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $57.43.

Silgan Trading Up 1.6 %

Shares of NYSE:SLGN traded up $0.83 during trading on Wednesday, reaching $53.92. 602,505 shares of the company traded hands, compared to its average volume of 564,153. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 1.39 and a beta of 0.67. Silgan Holdings Inc. has a 52-week low of $40.01 and a 52-week high of $55.24. The company has a current ratio of 0.52, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31. The business's fifty day moving average is $51.34 and its 200-day moving average is $48.21.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $1.75 billion for 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 business's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.16 EPS. As a group, 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. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, December 2nd. Silgan's dividend payout ratio (DPR) is presently 27.54%.

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.