Allspring Global Investments Holdings LLC Buys 29,565 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Allspring Global Investments Holdings LLC grew its stake in Silgan Holdings Inc. (NYSE:SLGN) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,610,421 shares of the industrial products company’s stock after purchasing an additional 29,565 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 2.44% of Silgan worth $137,047,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in shares of Silgan by 118.0% in the first quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company’s stock valued at $9,755,000 after purchasing an additional 108,942 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Silgan by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock worth $125,404,000 after acquiring an additional 204,384 shares during the period. Choreo LLC bought a new stake in Silgan during the second quarter worth $498,000. Seven Eight Capital LP bought a new stake in Silgan during the first quarter worth $1,129,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Silgan by 17.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock worth $4,769,000 after acquiring an additional 13,289 shares during the period. Institutional investors own 70.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Robert W. Baird lifted their price target on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $46.00 to $53.00 in a report on Thursday, August 1st. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Citigroup boosted their target price on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company boosted their target price on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Silgan Price Performance

SLGN stock traded up $0.73 during mid-day trading on Friday, hitting $52.45. 470,145 shares of the stock were exchanged, compared to its average volume of 566,540. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64. The business has a fifty day moving average price of $50.97 and a 200 day moving average price of $47.89. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $52.84. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.51 and a beta of 0.67.

Silgan (NYSE:SLGN) last issued its quarterly earnings results 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. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Silgan Holdings Inc. will post 3.66 EPS for the current year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Tuesday, September 3rd. Silgan’s dividend payout ratio (DPR) is presently 26.67%.

Insider Activity

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 11,495 shares of the company’s stock, valued at $563,714.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.39% of the stock is currently owned by corporate insiders.

Silgan 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.