Retirement Systems of Alabama Has $5.18 Million Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Retirement Systems of Alabama decreased its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,579 shares of the industrial products company’s stock after selling 1,579 shares during the period. Retirement Systems of Alabama owned approximately 0.09% of Silgan worth $5,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC increased its holdings in Silgan by 87.7% during the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock worth $329,619,000 after purchasing an additional 2,932,680 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Silgan by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock worth $125,404,000 after buying an additional 204,384 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Silgan by 1.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock valued at $137,047,000 after buying an additional 29,565 shares during the last quarter. State Street Corp raised its position in Silgan by 0.6% in the 3rd quarter. State Street Corp now owns 2,497,683 shares of the industrial products company’s stock valued at $131,128,000 after buying an additional 14,109 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Silgan by 11.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock valued at $78,509,000 after acquiring an additional 157,160 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SLGN shares. Royal Bank of Canada lifted their price objective on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered 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 given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $57.43.

Silgan Stock Performance

Shares of SLGN opened at $52.16 on Thursday. The company has a market cap of $5.57 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69. The firm has a 50-day moving average of $53.87 and a 200-day moving average of $50.02. 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 current ratio of 1.09 and a quick ratio of 0.75.

Silgan (NYSE:SLGN) last posted 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 return on equity of 18.76% and a net margin of 5.11%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. As a group, equities analysts forecast that Silgan Holdings Inc. will post 3.6 earnings per share for the current year.

Silgan Announces Dividend

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