Norges Bank purchased a new stake in Silgan Holdings Inc. (NASDAQ:SLGN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 721,589 shares of the company’s stock, valued at approximately $36,931,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Elkfork Partners LLC bought a new position in shares of Silgan Holdings during the fourth quarter valued at about $115,000. Tower Research Capital LLC TRC increased its position in shares of Silgan Holdings by 102.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,323 shares of the company’s stock valued at $117,000 after buying an additional 1,177 shares during the period. LS Investment Advisors LLC increased its position in shares of Silgan Holdings by 6.4% in the third quarter. LS Investment Advisors LLC now owns 2,624 shares of the company’s stock valued at $133,000 after buying an additional 157 shares during the period. Pacer Advisors Inc. increased its position in shares of Silgan Holdings by 9.1% in the third quarter. Pacer Advisors Inc. now owns 2,740 shares of the company’s stock valued at $139,000 after buying an additional 228 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of Silgan Holdings during the third quarter valued at about $156,000. Institutional investors and hedge funds own 74.27% of the company’s stock.
Silgan Holdings Inc. (NASDAQ:SLGN) opened at 59.64 on Monday. The firm’s 50-day moving average is $60.12 and its 200-day moving average is $53.56. Silgan Holdings Inc. has a 52-week low of $47.16 and a 52-week high of $61.77. The firm has a market capitalization of $3.28 billion, a P/E ratio of 23.39 and a beta of 0.57.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings results on Tuesday, January 31st. The company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.00. Silgan Holdings had a return on equity of 25.75% and a net margin of 4.25%. The company had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $814.52 million. During the same quarter last year, the business earned $0.48 earnings per share. Silgan Holdings’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts expect that Silgan Holdings Inc. will post $3.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 16th will be given a $0.18 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.21%. This is a boost from Silgan Holdings’s previous quarterly dividend of $0.17. Silgan Holdings’s dividend payout ratio (DPR) is presently 26.67%.
SLGN has been the topic of several research reports. Bank of America Corp upgraded shares of Silgan Holdings from an “underperform” rating to a “buy” rating in a research report on Monday, January 23rd. Barclays PLC upped their target price on shares of Silgan Holdings from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, February 6th. Zacks Investment Research upgraded shares of Silgan Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, January 17th. Finally, BMO Capital Markets upgraded shares of Silgan Holdings from a “market perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Tuesday, January 24th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Silgan Holdings has an average rating of “Hold” and an average target price of $54.71.
About Silgan Holdings
Silgan Holdings Inc (Silgan) is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products. The Company operates through three segments: metal container, closures and plastic container. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products.
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