State Street Corp Increases Stake in Silgan Holdings Inc. (NYSE:SLGN)

State Street Corp lifted its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,497,683 shares of the industrial products company's stock after acquiring an additional 14,109 shares during the quarter. State Street Corp owned approximately 2.34% of Silgan worth $131,128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SLGN. Blue Trust Inc. boosted its holdings in Silgan by 256.6% in the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company's stock worth $25,000 after acquiring an additional 426 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Silgan during the second quarter valued at approximately $70,000. Venturi Wealth Management LLC raised 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 worth $74,000 after acquiring an additional 963 shares during the period. GAMMA Investing LLC grew its position in shares of Silgan by 51.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company's stock valued at $93,000 after acquiring an additional 606 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Silgan in the 2nd quarter worth $104,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Silgan Price Performance

SLGN traded up $0.13 during trading on Friday, reaching $54.82. 439,697 shares of the company traded hands, compared to its average volume of 567,493. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. The firm has a fifty day simple moving average of $53.72 and a 200 day simple moving average of $49.88. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. The company has a market cap of $5.85 billion, a P/E ratio of 19.86, a PEG ratio of 1.44 and a beta of 0.69.

Silgan (NYSE:SLGN - Get Free Report) last announced 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 firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. Silgan's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 earnings per share. On average, equities analysts forecast that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Announces Dividend

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

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.