Bank of New York Mellon Corp Acquires New Holdings in Silgan Holdings Inc. $SLGN

Key Points

• Bank of New York Mellon acquired 837,484 shares of Silgan Holdings in the second quarter, valued at approximately $38.9 million, giving it a 0.79% stake. Institutional investors collectively own 70.25% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $54.00. Recent targets range from $47.00 to $59.00.
• Silgan exceeded quarterly earnings and revenue expectations, reporting $0.98 EPS on $1.64 billion in revenue, while declaring a quarterly dividend of $0.21 per share, equivalent to a 2.0% yield.

Bank of New York Mellon Corp bought a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 837,484 shares of the industrial products company's stock, valued at approximately $38,851,000. Bank of New York Mellon Corp owned 0.79% of Silgan as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of Silgan by 1.2% in the first quarter. Royal Bank of Canada now owns 43,734 shares of the industrial products company's stock worth $2,235,000 after purchasing an additional 510 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Silgan by 94.7% during the first quarter. AQR Capital Management LLC now owns 89,117 shares of the industrial products company's stock valued at $4,477,000 after purchasing an additional 43,338 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Silgan in the first quarter worth about $54,000. NewEdge Advisors LLC lifted its holdings in Silgan by 332.3% in the first quarter. NewEdge Advisors LLC now owns 6,459 shares of the industrial products company's stock worth $330,000 after purchasing an additional 4,965 shares during the period. Finally, United Services Automobile Association bought a new position in Silgan in the 1st quarter valued at about $264,000. Institutional investors own 70.25% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings raised shares of Silgan from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, July 15th. BMO Capital Markets began coverage on shares of Silgan in a research note on Thursday, July 16th. They set an "outperform" rating and a $57.00 price objective on the stock. Bank of America boosted their target price on Silgan from $53.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Raymond James Financial restated an "outperform" rating and issued a $59.00 target price on shares of Silgan in a research report on Wednesday, July 15th. Finally, UBS Group set a $47.00 price target on Silgan and gave the company a "neutral" rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.00.

Silgan Trading Up 0.5%

Silgan stock opened at $42.07 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.27 and a debt-to-equity ratio of 1.54. Silgan Holdings Inc. has a 12 month low of $35.68 and a 12 month high of $49.55. The company's fifty day simple moving average is $43.79 and its 200-day simple moving average is $42.22. The stock has a market cap of $4.45 billion, a P/E ratio of 16.50, a P/E/G ratio of 2.43 and a beta of 0.68.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.02. Silgan had a return on equity of 16.74% and a net margin of 4.05%.The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the business earned $1.01 EPS. The business's quarterly revenue was up 6.8% on a year-over-year basis. Silgan has set its FY 2026 guidance at 3.730-3.930 EPS and its Q3 2026 guidance at 1.210-1.310 EPS. As a group, sell-side analysts forecast that Silgan Holdings Inc. will post 3.82 EPS for the current fiscal year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.84 annualized dividend and a dividend yield of 2.0%. Silgan's dividend payout ratio is 32.94%.

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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