M&T Bank Corp Purchases 4,151 Shares of Silgan Holdings Inc. (NYSE:SLGN)

M&T Bank Corp lifted its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 33.4% during the third quarter, HoldingsChannel reports. The firm owned 16,566 shares of the industrial products company’s stock after buying an additional 4,151 shares during the quarter. M&T Bank Corp’s holdings in Silgan were worth $869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Silgan by 23.6% during the 3rd quarter. Barclays PLC now owns 57,327 shares of the industrial products company’s stock valued at $3,010,000 after purchasing an additional 10,936 shares in the last quarter. MML Investors Services LLC lifted its stake in Silgan by 20.7% in the third quarter. MML Investors Services LLC now owns 6,482 shares of the industrial products company’s stock valued at $340,000 after buying an additional 1,113 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Silgan by 14.2% in the third quarter. Jane Street Group LLC now owns 65,237 shares of the industrial products company’s stock valued at $3,425,000 after buying an additional 8,096 shares during the period. Weiss Asset Management LP bought a new stake in shares of Silgan during the third quarter worth $11,422,000. Finally, Two Sigma Advisers LP raised its holdings in shares of Silgan by 202.3% during the third quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company’s stock worth $13,015,000 after acquiring an additional 165,900 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SLGN. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada lifted their target price on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Silgan presently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Silgan Stock Performance

Shares of NYSE SLGN opened at $54.18 on Tuesday. The stock has a market capitalization of $5.79 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 1.44 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 stock has a 50 day moving average price of $53.79 and a 200 day moving average price of $49.97. 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 released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. Analysts predict that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.40%. Silgan’s dividend payout ratio is presently 27.54%.

Silgan 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.