Allspring Global Investments Holdings LLC Sells 371,040 Shares of Silgan Holdings Inc. $SLGN

Key Points

• Allspring Global Investments cut its Silgan Holdings stake by 18.8% in the first quarter, selling 371,040 shares and leaving it with 1,597,494 shares worth about $63.6 million.
• Silgan posted stronger-than-expected first-quarter results, with EPS of $0.78 versus $0.74 expected and revenue of $1.56 billion, up 6.4% from a year earlier.
• Analyst sentiment remains constructive: the stock has a consensus rating of “Moderate Buy” with a $53 average price target, while Silgan also pays a quarterly dividend of $0.21 per share.

Allspring Global Investments Holdings LLC reduced its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 18.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,597,494 shares of the industrial products company's stock after selling 371,040 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.51% of Silgan worth $63,612,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SLGN. Envestnet Portfolio Solutions Inc. increased its stake in shares of Silgan by 1.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 17,441 shares of the industrial products company's stock worth $704,000 after purchasing an additional 221 shares during the last quarter. Inspire Advisors LLC boosted its position in Silgan by 4.5% during the fourth quarter. Inspire Advisors LLC now owns 5,123 shares of the industrial products company's stock worth $207,000 after purchasing an additional 221 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Silgan by 2.5% in the fourth quarter. Verdence Capital Advisors LLC now owns 11,285 shares of the industrial products company's stock worth $456,000 after purchasing an additional 278 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Silgan by 37.4% in the fourth quarter. Fifth Third Bancorp now owns 1,084 shares of the industrial products company's stock worth $44,000 after purchasing an additional 295 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Silgan by 4.8% in the second quarter. NewEdge Advisors LLC now owns 6,767 shares of the industrial products company's stock valued at $367,000 after purchasing an additional 308 shares during the period. Institutional investors own 70.25% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on SLGN shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $51.00 price objective (up from $49.00) on shares of Silgan in a report on Thursday, July 9th. UBS Group lowered their target price on shares of Silgan from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, May 5th. Wells Fargo & Company restated an "overweight" rating and set a $56.00 target price (up from $55.00) on shares of Silgan in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft assumed coverage on Silgan in a report on Wednesday, April 1st. They issued a "buy" rating and a $52.00 price target for the company. Finally, BMO Capital Markets began coverage on Silgan in a research report on Thursday. They issued an "outperform" rating and a $57.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.00.

Silgan Stock Performance

Silgan stock opened at $47.22 on Friday. The firm's fifty day moving average price is $41.27 and its 200-day moving average price is $42.25. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.78 and a current ratio of 1.26. The stock has a market cap of $4.99 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.59 and a beta of 0.66. Silgan Holdings Inc. has a fifty-two week low of $35.68 and a fifty-two week high of $56.85.

Silgan (NYSE:SLGN - Get Free Report) last announced its earnings results on Wednesday, April 29th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. Silgan had a net margin of 4.31% and a return on equity of 17.22%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the business earned $0.69 earnings per share. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. Silgan has set its Q2 2026 guidance at 0.920-1.020 EPS and its FY 2026 guidance at 3.730-3.930 EPS. On average, equities research analysts expect that Silgan Holdings Inc. will post 3.79 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, June 1st. Silgan's dividend payout ratio (DPR) is presently 31.58%.

Silgan Profile

Silgan Holdings Inc NYSE: SLGN is a leading supplier of rigid packaging solutions for consumer goods manufacturers. The company's core business activities center on the design, production and distribution of metal and plastic containers, closures and dispense systems. Silgan serves a broad array of end markets, including food and beverage, home and personal care, health care and industrial products, providing both standard and custom packaging formats.

Founded in 1987 and headquartered in Stamford, Connecticut, Silgan has grown organically and through strategic acquisitions to establish a global manufacturing footprint.

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