Silgan Holdings Inc. (NYSE:SLGN) Shares Acquired by Legato Capital Management LLC

Legato Capital Management LLC increased its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 37.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,413 shares of the industrial products company’s stock after buying an additional 10,420 shares during the quarter. Legato Capital Management LLC’s holdings in Silgan were worth $1,999,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nicola Wealth Management LTD. increased its stake in shares of Silgan by 24.4% in the 3rd quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock worth $5,087,000 after acquiring an additional 19,000 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Silgan in the third quarter valued at about $2,975,000. BNP Paribas Financial Markets increased its position in Silgan by 144.1% during the third quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock worth $2,884,000 after purchasing an additional 32,432 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Silgan by 1.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock worth $137,047,000 after purchasing an additional 29,565 shares during the period. Finally, Versor Investments LP grew its stake in shares of Silgan by 112.7% in the 3rd 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. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SLGN. Bank of America lifted their price target on shares of Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Truist Financial restated a “buy” rating and issued a $70.00 target price (up previously from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Raymond James increased their price target on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Royal Bank of Canada boosted their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company increased their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Silgan has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Silgan Stock Down 0.6 %

Silgan stock opened at $52.98 on Wednesday. The firm has a market capitalization of $5.66 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.24 and a beta of 0.71. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a twelve month low of $41.14 and a twelve month high of $58.14. The stock’s fifty day simple moving average is $53.20 and its 200-day simple moving average is $52.35.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. As a group, equities analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

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.