Victory Capital Management Inc. Trims Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Victory Capital Management Inc. cut its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 7.9% during the third quarter, HoldingsChannel.com reports. The fund owned 2,130,496 shares of the industrial products company’s stock after selling 183,184 shares during the quarter. Victory Capital Management Inc.’s holdings in Silgan were worth $111,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SLGN. Daiwa Securities Group Inc. increased its stake in Silgan by 0.5% in the second quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock valued at $1,696,000 after purchasing an additional 218 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Silgan by 5.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 250 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in Silgan by 2.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock worth $453,000 after buying an additional 267 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Silgan by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock worth $390,000 after purchasing an additional 388 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Silgan by 1.1% during the second quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock worth $1,594,000 after acquiring an additional 421 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SLGN. Robert W. Baird lifted their price target on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $46.00 to $53.00 in a report on Thursday, August 1st. Citigroup raised their price target on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial reiterated a “buy” rating and issued a $59.00 price target (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their target price on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.43.

Silgan Stock Performance

Shares of NYSE:SLGN opened at $54.52 on Wednesday. The business’s 50-day simple moving average is $51.56 and its 200 day simple moving average is $48.45. The company has a market cap of $5.82 billion, a P/E ratio of 19.75, a PEG ratio of 1.42 and a beta of 0.67. 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 Holdings Inc. has a one year low of $40.01 and a one year high of $55.24.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts forecast that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Dividend Announcement

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

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.