7,552 Shares in Silgan Holdings Inc. (NYSE:SLGN) Purchased by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC acquired a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,552 shares of the industrial products company’s stock, valued at approximately $396,000.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Silgan by 256.6% in the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 426 shares during the last quarter. Headlands Technologies LLC bought a new stake in Silgan during the second quarter worth about $70,000. Venturi Wealth Management LLC increased its holdings in shares of Silgan by 220.4% during the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after buying an additional 963 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Silgan by 51.8% in the third 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 last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Silgan in the 2nd quarter worth approximately $104,000. 70.25% of the stock is currently owned by institutional investors.

Silgan Stock Down 1.3 %

Shares of SLGN opened at $55.14 on Wednesday. The business’s fifty day moving average price is $53.51 and its two-hundred day moving average price is $49.74. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 1.45 and a beta of 0.69. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09.

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

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.19 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.38%. Silgan’s dividend payout ratio is currently 27.54%.

Analysts Set New Price Targets

SLGN has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price target on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered 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 issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.