Silgan Holdings Inc. $SLGN Stock: ARGA Investment Management LP Raises Position

ARGA Investment Management LP increased its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 427,192 shares of the industrial products company's stock after purchasing an additional 30,136 shares during the quarter. ARGA Investment Management LP owned 0.40% of Silgan worth $14,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Keating Financial Advisory Services Inc. bought a new position in shares of Silgan during the 2nd quarter valued at $28,000. Allworth Financial LP bought a new stake in shares of Silgan in the second quarter worth $28,000. Parkside Financial Bank & Trust grew its holdings in shares of Silgan by 105.6% in the second quarter. Parkside Financial Bank & Trust now owns 627 shares of the industrial products company's stock worth $29,000 after acquiring an additional 322 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Silgan in the second quarter worth $33,000. Finally, Nisa Investment Advisors LLC increased its position in Silgan by 33.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,243 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 309 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on SLGN shares. Raymond James Financial reissued an "outperform" rating and issued a $59.00 target price on shares of Silgan in a report on Wednesday, July 15th. Citigroup boosted their price target on Silgan from $49.00 to $50.00 and gave the company a "buy" rating in a research note on Monday. Truist Financial upped their price target on shares of Silgan from $45.00 to $46.00 and gave the company a "buy" rating in a research report on Friday, October 30th. Weiss Ratings lowered shares of Silgan from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, October 13th. Finally, Royal Bank Of Canada increased their price objective on shares of Silgan from $47.00 to $48.00 and gave the stock an "outperform" rating in a research note on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.70.

Silgan Stock Performance

NYSE:SLGN opened at $41.50 on Wednesday. The stock has a 50-day simple moving average of $38.33 and a two-hundred day simple moving average of $41.37. Silgan Holdings Inc. has a 52-week low of $33.70 and a 52-week high of $49.55. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.37 and a current ratio of 0.52. The firm has a market capitalization of $4.39 billion, a PE ratio of 16.73, a P/E/G ratio of 2.48 and a beta of 0.64.

Silgan (NYSE:SLGN - Get Free Report) last released its earnings results on Thursday, October 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Silgan had a net margin of 3.90% and a return on equity of 16.73%. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the firm posted $1.22 EPS. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. Analysts forecast that Silgan Holdings Inc. will post 3.88 EPS for the current year.

Silgan Company Profile

Silgan Holdings Inc NYSE: SLGN is a manufacturer of rigid packaging products used by consumer goods companies. The company produces metal containers, plastic containers and specialty closures for food, beverage, personal care, household, healthcare, industrial and other products.

Silgan's metal packaging business supplies cans and containers for food, pet food, paint, chemicals, aerosols and other applications. Its plastic packaging operations manufacture bottles, tubs and other containers, while its closures business produces metal and plastic caps, lids and dispensing systems for a range of consumer and industrial products.

Founded in 1987, Silgan serves customers primarily across North America and Europe through a network of manufacturing facilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.