Point72 Asset Management L.P. Takes Position in Silgan Holdings Inc. (NYSE:SLGN)

Point72 Asset Management L.P. acquired a new position in shares of Silgan Holdings Inc. (NYSE:SLGN) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,930 shares of the industrial products company’s stock, valued at approximately $154,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CWM LLC raised its position in shares of Silgan by 203.0% in the second quarter. CWM LLC now owns 3,039 shares of the industrial products company’s stock valued at $129,000 after buying an additional 2,036 shares during the last quarter. SG Americas Securities LLC acquired a new position in Silgan in the 2nd quarter valued at $529,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Silgan by 5.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock worth $218,000 after purchasing an additional 250 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Silgan by 20.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 8,271 shares of the industrial products company’s stock worth $350,000 after purchasing an additional 1,379 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Silgan by 256.6% in the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 426 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

SLGN has been the topic of several recent analyst reports. Royal Bank of Canada increased their target price on Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.43.

Silgan Stock Performance

Silgan stock opened at $54.82 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69. The stock’s 50-day moving average is $53.72 and its 200-day moving average is $49.86.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share 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 business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the firm earned $1.16 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Equities analysts anticipate that Silgan Holdings Inc. will post 3.6 earnings per share for the current year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.19 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.39%. 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.