19,860 Shares in Silgan Holdings Inc. (NYSE:SLGN) Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board purchased a new position in Silgan Holdings Inc. (NYSE:SLGN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,860 shares of the industrial products company’s stock, valued at approximately $1,043,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SLGN. Covestor Ltd boosted its holdings 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 valued at $55,000 after purchasing an additional 462 shares during the last quarter. Natixis bought a new position in Silgan during the first quarter valued at $1,802,000. MQS Management LLC bought a new position in shares of Silgan in the 1st quarter valued at about $269,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Silgan by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,416 shares of the industrial products company’s stock worth $2,060,000 after purchasing an additional 2,386 shares during the period. Finally, Perbak Capital Partners LLP bought a new position in shares of Silgan during the 1st quarter valued at approximately $7,168,000. Institutional investors own 70.25% of the company’s stock.

Silgan Trading Up 0.8 %

Shares of NYSE SLGN opened at $54.72 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. The stock has a market capitalization of $5.84 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 1.42 and a beta of 0.67. Silgan Holdings Inc. has a 1-year low of $40.88 and a 1-year high of $55.32. The business has a fifty day moving average price of $52.05 and a 200 day moving average price of $48.78.

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

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Monday, December 2nd. Silgan’s dividend payout ratio (DPR) is presently 27.54%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SLGN shares. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Truist Financial reissued a “buy” rating and set a $59.00 target price (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. 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 report on Thursday, August 1st. Finally, Royal Bank of Canada boosted their target price on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

About Silgan

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.