Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 7.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,130,496 shares of the industrial products company’s stock after selling 183,184 shares during the period. Victory Capital Management Inc. owned approximately 2.00% of Silgan worth $111,851,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SLGN. Blue Trust Inc. increased its holdings in shares of Silgan by 256.6% in the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 426 shares during the last quarter. Covestor Ltd boosted its holdings in Silgan by 69.7% in the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 462 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Silgan by 2,838.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after buying an additional 1,107 shares during the period. GAMMA Investing LLC grew its position in Silgan by 109.9% in the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 613 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in 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 acquiring an additional 963 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on SLGN. Royal Bank of Canada increased their price target on Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Citigroup raised their price target on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird boosted their price objective on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Silgan currently has an average rating of “Moderate Buy” and an average target price of $57.43.

Silgan Stock Up 0.8 %

Silgan stock opened at $54.52 on Wednesday. The firm has a market capitalization of $5.82 billion, a P/E ratio of 19.75, a P/E/G ratio of 1.42 and a beta of 0.67. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a twelve month low of $40.01 and a twelve month high of $55.24. The stock’s fifty day simple moving average is $51.56 and its 200-day simple moving average is $48.45.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share. As a group, equities analysts expect that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.39%. Silgan’s dividend payout ratio is presently 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.