Silgan Holdings Inc. (NYSE:SLGN) Stake Lessened by Tidal Investments LLC

Tidal Investments LLC trimmed its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 41.4% during the third quarter, HoldingsChannel reports. The fund owned 18,667 shares of the industrial products company’s stock after selling 13,190 shares during the quarter. Tidal Investments LLC’s holdings in Silgan were worth $980,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of Silgan by 256.6% during the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 426 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Silgan during the second quarter valued at approximately $70,000. Venturi Wealth Management LLC lifted its holdings in Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after buying an additional 963 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Silgan by 51.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock worth $93,000 after acquiring an additional 606 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Silgan in the 2nd quarter valued at approximately $104,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLGN has been the subject of a number of research reports. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada boosted their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday. Two investment 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 currently has an average rating of “Moderate Buy” and an average price target of $58.14.

Silgan Stock Down 0.5 %

Silgan stock opened at $51.92 on Friday. The firm has a market capitalization of $5.54 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.44 and a beta of 0.69. The company has a 50-day simple moving average of $53.89 and a 200-day simple moving average of $50.04. Silgan Holdings Inc. has a one year low of $41.14 and a one year high of $58.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. Silgan’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $1.16 EPS. As a group, equities analysts expect that Silgan Holdings Inc. will post 3.6 earnings per share for the current year.

Silgan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.46%. The ex-dividend date was Monday, December 2nd. Silgan’s payout ratio is currently 27.54%.

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.