Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Quarry LP

Quarry LP decreased its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 42.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,053 shares of the industrial products company’s stock after selling 1,536 shares during the quarter. Quarry LP’s holdings in Silgan were worth $108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Silgan by 256.6% during the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 426 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Silgan by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 613 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 963 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Silgan during the 2nd quarter valued at about $70,000. Finally, KBC Group NV boosted its position in shares of Silgan by 27.7% during the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 494 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Stock Down 1.9 %

Shares of NYSE:SLGN opened at $55.38 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. The firm has a market capitalization of $5.91 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.48 and a beta of 0.69. The firm’s 50-day moving average is $53.38 and its two-hundred day moving average is $49.59. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The business had revenue of $1.75 billion for 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%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.16 earnings per share. Analysts predict that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.37%. Silgan’s dividend payout ratio (DPR) is presently 27.54%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada boosted their price objective on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

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.