Synovus Financial Corp Purchases 8,354 Shares of Silgan Holdings Inc. $SLGN

Key Points

• Synovus Financial Corp increased its stake in Silgan Holdings Inc. by 36.8%, acquiring an additional 8,354 shares during the first quarter, totaling approximately $1.59 million in holdings.
• Silgan reported $1.01 EPS for the most recent quarter, slightly missing expectations, while revenues reached $1.54 billion, indicating a year-over-year increase of 11.4%.
• The company announced a quarterly dividend of $0.20 per share, with a dividend yield of 1.7% and a payout ratio of 28.47%.

Synovus Financial Corp boosted its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 36.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,075 shares of the industrial products company's stock after buying an additional 8,354 shares during the quarter. Synovus Financial Corp's holdings in Silgan were worth $1,589,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Silgan during the first quarter worth approximately $51,000. M&T Bank Corp lifted its position in Silgan by 6.9% during the first 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 last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Silgan by 13.4% during the first 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 last quarter. Janney Montgomery Scott LLC lifted its position in Silgan by 1.4% during the first 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 last quarter. Finally, CX Institutional acquired a new stake in Silgan during the first quarter worth approximately $42,000. Institutional investors and hedge funds own 70.25% of the company's stock.

Silgan Price Performance

Shares of SLGN traded up $0.08 during mid-day trading on Monday, reaching $46.88. The company had a trading volume of 972,405 shares, compared to its average volume of 981,018. The company's 50 day simple moving average is $51.14 and its 200 day simple moving average is $51.91. Silgan Holdings Inc. has a 1-year low of $44.37 and a 1-year high of $58.14. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.96. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 1.22 and a beta of 0.71.

Silgan (NYSE:SLGN - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $1.01 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the business earned $0.88 earnings per share. The firm's quarterly 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. Analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Dividend Announcement

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

Insiders Place Their Bets

In other Silgan news, EVP Robert B. Lewis sold 11,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were 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 owned 142,378 shares in the company, valued at approximately $6,649,052.60. This trade represents a 7.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Truist Financial increased their target price on shares of Silgan from $62.00 to $67.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Bank of America raised Silgan from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $53.00 to $57.00 in a report on Thursday. Royal Bank Of Canada dropped their price objective on Silgan from $64.00 to $57.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Wells Fargo & Company lifted their price objective on Silgan from $60.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, Citigroup lifted their price objective on Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $62.22.

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.