Adage Capital Partners GP L.L.C. Makes New Investment in Silgan Holdings Inc. $SLGN

Adage Capital Partners GP L.L.C. bought a new position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 49,033 shares of the industrial products company's stock, valued at approximately $2,507,000.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Silgan in the 1st quarter worth $51,000. M&T Bank Corp raised its holdings in Silgan by 6.9% in the 1st quarter. M&T Bank Corp now owns 18,135 shares of the industrial products company's stock worth $927,000 after acquiring an additional 1,165 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Silgan by 13.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,903 shares of the industrial products company's stock worth $353,000 after acquiring an additional 815 shares during the period. Janney Montgomery Scott LLC raised its holdings in Silgan by 1.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 49,933 shares of the industrial products company's stock worth $2,553,000 after acquiring an additional 695 shares during the period. Finally, CX Institutional bought a new position in Silgan in the 1st quarter worth $42,000. Institutional investors own 70.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SLGN. Raymond James Financial reduced their target price on shares of Silgan from $64.00 to $60.00 and set a "strong-buy" rating for the company in a research note on Thursday, July 31st. Bank of America raised Silgan from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $53.00 to $57.00 in a report on Thursday, August 28th. Truist Financial upped their target price on shares of Silgan from $62.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wells Fargo & Company increased their price target on shares of Silgan from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada dropped their price target on shares of Silgan from $64.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $62.22.

Insider Buying and Selling

In related news, EVP Robert B. Lewis sold 11,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $46.70, for a total transaction of $513,700.00. Following the completion of the transaction, the executive vice president directly owned 142,378 shares of the company's stock, valued at approximately $6,649,052.60. This represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.13% of the company's stock.

Silgan Price Performance

Shares of SLGN traded down $0.43 during mid-day trading on Wednesday, hitting $44.07. 830,829 shares of the company traded hands, compared to its average volume of 973,812. The business has a 50-day moving average of $49.72 and a 200 day moving average of $51.48. The company has a current ratio of 0.96, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. Silgan Holdings Inc. has a one year low of $43.76 and a one year high of $58.14. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.16 and a beta of 0.71.

Silgan (NYSE:SLGN - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $1.01 EPS for the quarter, missing analysts' consensus estimates of $1.03 by ($0.02). Silgan had a return on equity of 19.98% and a net margin of 4.90%.The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm posted $0.88 EPS. Silgan's revenue was up 11.4% on a year-over-year basis. Silgan has set its Q3 2025 guidance at 1.180-1.280 EPS. FY 2025 guidance at 3.850-4.050 EPS. As a group, equities analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 2nd. Silgan's payout ratio is currently 28.47%.

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.