Silgan Holdings Inc. (NYSE:SLGN) Stock Position Lowered by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 0.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 118,415 shares of the industrial products company’s stock after selling 1,086 shares during the period. Public Employees Retirement System of Ohio’s holdings in Silgan were worth $6,217,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Silgan by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock valued at $125,404,000 after purchasing an additional 204,384 shares in the last quarter. Choreo LLC bought a new stake in Silgan during the second quarter worth approximately $498,000. Allspring Global Investments Holdings LLC grew its position in Silgan by 6.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company’s stock worth $109,248,000 after buying an additional 163,853 shares during the last quarter. Nicola Wealth Management LTD. increased its holdings in shares of Silgan by 24.4% in the third quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock valued at $5,087,000 after buying an additional 19,000 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Silgan by 144.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock valued at $2,884,000 after acquiring an additional 32,432 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Stock Performance

Shares of SLGN stock opened at $54.82 on Friday. The stock’s fifty day simple moving average is $53.72 and its 200-day simple moving average is $49.86. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 19.86, a P/E/G 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. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14.

Silgan (NYSE:SLGN) last released 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 business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm earned $1.16 EPS. On average, sell-side analysts predict that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on SLGN. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada lifted their price target on Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Silgan has a consensus rating of “Moderate Buy” and an average price target of $57.43.

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.