Aigen Investment Management LP Sells 921 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Aigen Investment Management LP cut its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 12.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,499 shares of the industrial products company’s stock after selling 921 shares during the quarter. Aigen Investment Management LP’s holdings in Silgan were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in 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 worth $125,404,000 after acquiring an additional 204,384 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Silgan by 1.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock worth $137,047,000 after acquiring an additional 29,565 shares during the last quarter. Boston Trust Walden Corp grew its holdings in Silgan by 20.6% during the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock worth $79,776,000 after acquiring an additional 322,511 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Silgan by 95.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock worth $59,462,000 after acquiring an additional 598,472 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Silgan by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 832,817 shares of the industrial products company’s stock worth $35,253,000 after acquiring an additional 17,328 shares during the last quarter. 70.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SLGN shares. Truist Financial restated a “buy” rating and issued a $59.00 price target (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Robert W. Baird boosted their price target on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their target price on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.43.

Silgan Stock Performance

Shares of SLGN stock opened at $53.55 on Friday. The firm has a market capitalization of $5.72 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.44 and a beta of 0.67. The firm has a fifty day simple moving average of $51.78 and a two-hundred day simple moving average of $48.58. 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 12 month low of $40.88 and a 12 month high of $55.32.

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

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.42%. Silgan’s dividend payout ratio is currently 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.