Short Interest in Silgan Holdings Inc. (NYSE:SLGN) Expands By 36.0%

Silgan Holdings Inc. (NYSE:SLGN) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 3,060,000 shares, a growth of 36.0% from the December 15th total of 2,250,000 shares. Based on an average daily volume of 640,000 shares, the days-to-cover ratio is presently 4.8 days. Currently, 3.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ritholtz Wealth Management bought a new stake in shares of Silgan during the 4th quarter valued at $620,000. Assenagon Asset Management S.A. bought a new position in shares of Silgan in the fourth quarter worth approximately $1,142,000. GAMMA Investing LLC grew its holdings in shares of Silgan by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock valued at $137,000 after buying an additional 863 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Silgan during the third quarter valued at approximately $2,975,000. Finally, Franklin Resources Inc. purchased a new position in Silgan in the 3rd quarter worth approximately $223,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada upped their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Truist Financial lifted their price objective on Silgan from $63.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Bank of America increased their target price on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.75.

Silgan Trading Down 0.3 %

Shares of SLGN traded down $0.17 during mid-day trading on Thursday, hitting $52.35. 233,788 shares of the company’s stock traded hands, compared to its average volume of 430,028. 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 firm has a market capitalization of $5.59 billion, a P/E ratio of 18.97, a PEG ratio of 1.16 and a beta of 0.71. The business’s 50-day moving average price is $53.88 and its 200-day moving average price is $51.03. Silgan has a 1 year low of $41.14 and a 1 year high of $58.14.

Silgan (NYSE:SLGN) last issued 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.16 earnings per share. As a group, sell-side analysts forecast that Silgan will post 3.6 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.45%. 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.