Silgan Holdings Inc. (NYSE:SLGN) Stock Holdings Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in Silgan Holdings Inc. (NYSE:SLGN) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 248,943 shares of the industrial products company’s stock after acquiring an additional 635 shares during the period. State of Alaska Department of Revenue owned approximately 0.23% of Silgan worth $13,069,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SLGN. Blue Trust Inc. grew its stake 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 worth $25,000 after purchasing an additional 426 shares in the last quarter. Versant Capital Management Inc grew its position in 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 in the last quarter. GAMMA Investing LLC increased its stake in Silgan by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after buying an additional 613 shares during the period. Covestor Ltd raised its position in shares of Silgan by 69.7% during the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after buying an additional 462 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Silgan in the 2nd quarter worth approximately $70,000. 70.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Silgan

In other news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the transaction, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SLGN shares. Citigroup raised their price objective on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their price objective on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised their target price on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their target price on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Silgan Stock Down 0.1 %

Shares of Silgan stock opened at $50.90 on Monday. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31. Silgan Holdings Inc. has a 12-month low of $38.67 and a 12-month high of $52.84. The firm has a market capitalization of $5.43 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.23 and a beta of 0.67. The stock’s fifty day moving average is $51.15 and its 200-day moving average is $47.98.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 EPS. Equities analysts anticipate that Silgan Holdings Inc. will post 3.65 earnings per share for the current year.

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.49%. The ex-dividend date was Tuesday, September 3rd. Silgan’s payout ratio is 26.67%.

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.