Ausbil Investment Management Ltd Purchases 6,091 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Ausbil Investment Management Ltd grew its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 93.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,579 shares of the industrial products company’s stock after buying an additional 6,091 shares during the period. Ausbil Investment Management Ltd’s holdings in Silgan were worth $642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC boosted its position in Silgan by 87.7% in the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock valued at $329,619,000 after buying an additional 2,932,680 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Silgan by 1.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock worth $137,047,000 after purchasing an additional 29,565 shares in the last quarter. State Street Corp increased its holdings in Silgan by 0.6% during the 3rd quarter. State Street Corp now owns 2,497,683 shares of the industrial products company’s stock worth $131,128,000 after purchasing an additional 14,109 shares during the period. Geode Capital Management LLC raised its position in Silgan by 11.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock valued at $78,509,000 after purchasing an additional 157,160 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Silgan by 0.9% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,278,560 shares of the industrial products company’s stock worth $67,124,000 after buying an additional 11,655 shares during the period. 70.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SLGN shares. JPMorgan Chase & Co. lifted their price objective on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday. Royal Bank of Canada upped their price target on shares of Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday. Raymond James lifted their price objective on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company upped their target price on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Bank of America boosted their price target on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Silgan Trading Down 1.9 %

Silgan stock opened at $55.10 on Friday. Silgan Holdings Inc. has a one year low of $41.14 and a one year high of $58.14. The stock has a market cap of $5.88 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. The stock has a 50-day moving average of $53.64 and a two-hundred day moving average of $51.87.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.77%. On average, research analysts anticipate that Silgan Holdings Inc. will post 4.09 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Monday, December 2nd. Silgan’s payout ratio is 29.46%.

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.