Wellington Management Group LLP Sells 305,569 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Wellington Management Group LLP lowered its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 10.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,563,534 shares of the industrial products company's stock after selling 305,569 shares during the period. Wellington Management Group LLP owned 2.40% of Silgan worth $134,586,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. raised its position in shares of Silgan by 0.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company's stock worth $1,696,000 after acquiring an additional 218 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Silgan by 5.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company's stock worth $218,000 after purchasing an additional 250 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Silgan by 2.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company's stock valued at $453,000 after buying an additional 267 shares during the period. Verdence Capital Advisors LLC lifted its position in Silgan by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company's stock valued at $390,000 after buying an additional 388 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Silgan by 1.1% during the 2nd quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company's stock valued at $1,594,000 after buying an additional 421 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SLGN. StockNews.com downgraded Silgan from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th. 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Silgan has a consensus rating of "Moderate Buy" and a consensus price target of $57.43.

Silgan Stock Performance

NYSE SLGN traded down $0.70 during trading hours on Tuesday, hitting $55.14. 497,431 shares of the company's stock traded hands, compared to its average volume of 565,887. 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 Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The firm has a market capitalization of $5.89 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.45 and a beta of 0.69. The business's fifty day moving average price is $53.45 and its two-hundred day moving average price is $49.68.

Silgan (NYSE:SLGN - Get Free Report) last released its 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 return on equity of 18.76% and a net margin of 5.11%. Silgan's revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. Equities research analysts predict that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Monday, December 2nd. Silgan's dividend payout ratio (DPR) is presently 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.