Glenmede Trust Co. NA lessened its stake in Silgan Holdings Inc. (NYSE:SLGN – Free Report) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 236,309 shares of the industrial products company’s stock after selling 22,063 shares during the period. Glenmede Trust Co. NA owned 0.22% of Silgan worth $9,169,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its position in shares of Silgan by 2,525.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 735 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 707 shares during the period. Measured Wealth Private Client Group LLC bought a new position in Silgan in the third quarter worth approximately $33,000. EverSource Wealth Advisors LLC increased its holdings in Silgan by 627.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 669 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 577 shares during the period. Danske Bank A S increased its holdings in Silgan by 233.3% during the 4th quarter. Danske Bank A S now owns 1,000 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 700 shares during the period. Finally, Fifth Third Bancorp raised its position in Silgan by 37.4% during the 4th quarter. Fifth Third Bancorp now owns 1,084 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 295 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.
Silgan Stock Up 3.6%
NYSE:SLGN opened at $41.42 on Tuesday. Silgan Holdings Inc. has a fifty-two week low of $35.68 and a fifty-two week high of $49.55. The stock has a market capitalization of $4.38 billion, a P/E ratio of 16.24, a P/E/G ratio of 2.19 and a beta of 0.66. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.33 and a current ratio of 0.53. The company’s 50-day simple moving average is $42.64 and its 200-day simple moving average is $42.48.
Silgan Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. Silgan’s dividend payout ratio is presently 32.94%.
Analysts Set New Price Targets
Several equities analysts have recently commented on SLGN shares. JPMorgan Chase & Co. cut their price target on Silgan from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $51.00 target price (up from $49.00) on shares of Silgan in a report on Thursday, July 9th. Wells Fargo & Company restated an “overweight” rating and issued a $56.00 price target (up from $55.00) on shares of Silgan in a report on Thursday, April 30th. UBS Group set a $47.00 price objective on shares of Silgan and gave the company a “neutral” rating in a research note on Thursday. Finally, Truist Financial cut their price objective on shares of Silgan from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.30.
Read Our Latest Stock Report on SLGN
Silgan Company Profile
Silgan Holdings Inc (NYSE: SLGN) is a leading supplier of rigid packaging solutions for consumer goods manufacturers. The company’s core business activities center on the design, production and distribution of metal and plastic containers, closures and dispense systems. Silgan serves a broad array of end markets, including food and beverage, home and personal care, health care and industrial products, providing both standard and custom packaging formats.
Founded in 1987 and headquartered in Stamford, Connecticut, Silgan has grown organically and through strategic acquisitions to establish a global manufacturing footprint.
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