Aigen Investment Management LP Lowers Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Aigen Investment Management LP lowered its position in Silgan Holdings Inc. (NYSE:SLGN) by 12.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,499 shares of the industrial products company’s stock after selling 921 shares during the period. Aigen Investment Management LP’s holdings in Silgan were worth $341,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SLGN. Entropy Technologies LP increased its holdings in Silgan by 6.7% during the first quarter. Entropy Technologies LP now owns 8,478 shares of the industrial products company’s stock worth $412,000 after buying an additional 529 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Silgan by 17.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock worth $4,769,000 after buying an additional 13,289 shares during the last quarter. Covestor Ltd increased its holdings in Silgan by 69.7% during the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after buying an additional 462 shares during the last quarter. Seven Eight Capital LP bought a new position in Silgan during the first quarter worth about $1,129,000. Finally, Natixis bought a new position in Silgan during the first quarter worth about $1,802,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

SLGN has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Truist Financial reiterated a “buy” rating and set a $59.00 target price (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Robert W. Baird increased their target price 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. Finally, Citigroup increased their target price on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two research 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.43.

Silgan Price Performance

SLGN stock opened at $53.55 on Friday. Silgan Holdings Inc. has a 12 month low of $40.88 and a 12 month high of $55.32. The firm has a market capitalization of $5.72 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 1.44 and a beta of 0.67. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $51.78 and a 200-day moving average of $48.58.

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

Silgan Dividend Announcement

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 given a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.42%. Silgan’s payout ratio is presently 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.