Oddo BHF Asset Management Sas Acquires New Stake in Silgan Holdings Inc. (NYSE:SLGN)

Oddo BHF Asset Management Sas bought a new stake in Silgan Holdings Inc. (NYSE:SLGN) during the third quarter, HoldingsChannel.com reports. The fund bought 56,668 shares of the industrial products company’s stock, valued at approximately $2,975,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its position 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 valued at $25,000 after purchasing an additional 426 shares during the period. Headlands Technologies LLC acquired a new stake in Silgan in the 2nd quarter worth about $70,000. Venturi Wealth Management LLC grew its holdings in Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after buying an additional 963 shares during the period. GAMMA Investing LLC increased its stake in shares of Silgan by 51.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock valued at $93,000 after acquiring an additional 606 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Silgan during the 2nd quarter worth about $104,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Stock Performance

NYSE:SLGN opened at $54.82 on Friday. Silgan Holdings Inc. has a twelve month low of $41.14 and a twelve month high of $58.14. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.44 and a beta of 0.69. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The firm’s fifty day simple moving average is $53.72 and its 200 day simple moving average is $49.86.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). The company had revenue of $1.75 billion during 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%. Silgan’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 EPS. As a group, equities research analysts expect that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.39%. Silgan’s dividend payout ratio is currently 27.54%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SLGN shares. Royal Bank of Canada upped their price target on shares of Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.43.

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.