Fuller & Thaler Asset Management Inc. Lowers Position in Silgan Holdings Inc. $SLGN

Key Points

• Fuller & Thaler Asset Management Inc. has reduced its stake in Silgan Holdings Inc. by 0.8%, now owning approximately 1.14% of the company valued at $62.48 million.
• Despite the stake reduction, several other institutional investors have increased their holdings in Silgan, indicating ongoing interest from large investors.
• Silgan recently announced a dividend payout of $0.20 per share, equating to an annualized yield of 1.7%, with the next payment scheduled for September 16th.

Fuller & Thaler Asset Management Inc. cut its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,222,251 shares of the industrial products company's stock after selling 9,442 shares during the period. Fuller & Thaler Asset Management Inc. owned about 1.14% of Silgan worth $62,481,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. State of Michigan Retirement System lifted its position in shares of Silgan by 1.0% in the first quarter. State of Michigan Retirement System now owns 19,400 shares of the industrial products company's stock valued at $992,000 after acquiring an additional 200 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Silgan by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the industrial products company's stock valued at $1,160,000 after acquiring an additional 200 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in shares of Silgan by 5.9% in the first quarter. Central Pacific Bank Trust Division now owns 3,760 shares of the industrial products company's stock valued at $192,000 after acquiring an additional 210 shares in the last quarter. Aristeia Capital L.L.C. lifted its position in shares of Silgan by 4.0% in the fourth quarter. Aristeia Capital L.L.C. now owns 5,488 shares of the industrial products company's stock valued at $286,000 after acquiring an additional 212 shares in the last quarter. Finally, Independent Advisor Alliance lifted its position in shares of Silgan by 0.8% in the first quarter. Independent Advisor Alliance now owns 32,330 shares of the industrial products company's stock valued at $1,653,000 after acquiring an additional 266 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup lifted their target price on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Truist Financial lifted their target price on Silgan from $62.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Wells Fargo & Company lifted their target price on Silgan from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. JPMorgan Chase & Co. raised Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price on the stock in a report on Thursday, May 1st. Finally, Raymond James Financial reduced their target price on Silgan from $64.00 to $60.00 and set a "strong-buy" rating on the stock in a report on Thursday, July 31st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.44.

Silgan Stock Performance

Shares of SLGN opened at $45.79 on Tuesday. Silgan Holdings Inc. has a 12 month low of $44.37 and a 12 month high of $58.14. The stock has a fifty day moving average price of $52.70 and a 200-day moving average price of $52.42. The company has a current ratio of 0.96, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. The firm has a market cap of $4.90 billion, a PE ratio of 16.30, a P/E/G ratio of 1.16 and a beta of 0.69.

Silgan (NYSE:SLGN - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.02). Silgan had a net margin of 4.90% and a return on equity of 19.98%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company earned $0.88 earnings per share. Silgan's revenue was up 11.4% on a year-over-year basis. Equities research analysts predict that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Silgan's dividend payout ratio (DPR) is currently 28.47%.

About Silgan

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.