MQS Management LLC Acquires New Holdings in Silgan Holdings Inc. (NYSE:SLGN)

MQS Management LLC acquired a new position in shares of Silgan Holdings Inc. (NYSE:SLGN) in the 3rd quarter, Holdings Channel reports. The fund acquired 8,552 shares of the industrial products company’s stock, valued at approximately $449,000.

Several other hedge funds also recently modified their holdings of SLGN. GSA Capital Partners LLP bought a new position in shares of Silgan in the third quarter valued at approximately $238,000. Versor Investments LP lifted its stake in Silgan by 112.7% in the third quarter. Versor Investments LP now owns 10,208 shares of the industrial products company’s stock valued at $536,000 after buying an additional 5,408 shares during the period. Venturi Wealth Management LLC increased its stake 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 valued at $74,000 after purchasing an additional 963 shares in the last quarter. Atria Investments Inc acquired a new stake in Silgan during the 3rd quarter worth $244,000. Finally, Verdence Capital Advisors LLC lifted its holdings in shares of Silgan by 5.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock valued at $390,000 after purchasing an additional 388 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SLGN has been the subject of a number of analyst reports. Royal Bank of Canada raised their target price on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $46.00 to $53.00 in a report on Thursday, August 1st. Truist Financial restated a “buy” rating and issued a $59.00 price target (up from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Wells Fargo & Company increased their target price on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird boosted their price target on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note 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 stock. According to MarketBeat, Silgan has an average rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan Trading Up 1.1 %

Shares of SLGN stock opened at $55.13 on Thursday. The firm has a market cap of $5.89 billion, a P/E ratio of 19.97, a PEG ratio of 1.43 and a beta of 0.67. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average of $51.64 and a 200-day moving average of $48.50. Silgan Holdings Inc. has a 12-month low of $40.88 and a 12-month high of $55.32.

Silgan (NYSE:SLGN) last released 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 company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. Silgan’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. Sell-side analysts anticipate that Silgan Holdings Inc. will post 3.6 earnings per share for the current year.

Silgan Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Monday, December 2nd. Silgan’s dividend payout ratio (DPR) is 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.