Silgan Holdings Inc. (NYSE:SLGN) Stock Holdings Lifted by Sit Investment Associates Inc.

Sit Investment Associates Inc. lifted its position in Silgan Holdings Inc. (NYSE:SLGN) by 26.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 24,165 shares of the industrial products company’s stock after buying an additional 5,000 shares during the quarter. Sit Investment Associates Inc.’s holdings in Silgan were worth $1,235,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. CX Institutional purchased a new position in shares of Silgan in the first quarter worth approximately $42,000. UMB Bank n.a. increased its position in shares of Silgan by 254.9% in the first quarter. UMB Bank n.a. now owns 898 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 645 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Silgan in the first quarter worth approximately $51,000. GeoWealth Management LLC purchased a new position in shares of Silgan in the fourth quarter worth approximately $56,000. Finally, Continuum Advisory LLC increased its position in shares of Silgan by 2,754.3% in the first quarter. Continuum Advisory LLC now owns 1,313 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,267 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Silgan

In other Silgan news, EVP Robert B. Lewis sold 10,000 shares of Silgan stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the completion of the sale, the executive vice president directly owned 153,378 shares in the company, valued at $8,576,897.76. The trade was a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 target price on the stock in a research report on Thursday, May 1st. Wells Fargo & Company raised their price target on shares of Silgan from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Citigroup raised their price target on shares of Silgan from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Raymond James Financial decreased their price target on shares of Silgan from $64.00 to $60.00 and set a “strong-buy” rating for the company in a report on Thursday, July 31st. Finally, Royal Bank Of Canada decreased their price target on shares of Silgan from $64.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, August 1st. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Silgan currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.44.

Silgan Price Performance

NYSE SLGN opened at $46.49 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.96 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $4.97 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.18 and a beta of 0.69. The company has a 50 day moving average price of $52.87 and a two-hundred day moving average price of $52.53. Silgan Holdings Inc. has a 12-month low of $44.37 and a 12-month high of $58.14.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Silgan had a net margin of 4.90% and a return on equity of 19.98%. Silgan’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share. As a group, equities analysts predict that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.20 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.7%. Silgan’s payout ratio is 28.47%.

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.