Silgan Holdings Inc. $SLGN Stock: Boston Trust Walden Corp Cuts Position

Key Points

• Boston Trust Walden cut its Silgan stake by 5.2% in the third quarter, selling 43,950 shares; it retained 795,561 shares valued at about $27.6 million.
• Silgan reported quarterly EPS of $1.31, beating estimates of $1.25, while revenue of $2.04 billion fell short of forecasts; revenue rose 1.5% year over year.
• The company announced a quarterly dividend of $0.21 per share, equivalent to a 2.0% annual yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $50.70.

Boston Trust Walden Corp trimmed its position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 5.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 795,561 shares of the industrial products company's stock after selling 43,950 shares during the quarter. Boston Trust Walden Corp owned approximately 0.75% of Silgan worth $27,646,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. ARGA Investment Management LP boosted its stake in Silgan by 7.6% in the third quarter. ARGA Investment Management LP now owns 427,192 shares of the industrial products company's stock valued at $14,845,000 after acquiring an additional 30,136 shares in the last quarter. VCI Wealth Management LLC purchased a new position in Silgan during the 3rd quarter worth approximately $1,375,000. State of Wyoming purchased a new position in Silgan during the 3rd quarter worth approximately $121,000. Choreo LLC increased its position in Silgan by 3.1% during the third quarter. Choreo LLC now owns 19,970 shares of the industrial products company's stock worth $694,000 after buying an additional 605 shares during the period. Finally, Evergreen Capital Management LLC increased its position in Silgan by 22.8% during the third quarter. Evergreen Capital Management LLC now owns 16,206 shares of the industrial products company's stock worth $563,000 after buying an additional 3,005 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

Silgan Price Performance

SLGN stock opened at $41.74 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.37 and a current ratio of 0.52. Silgan Holdings Inc. has a 1 year low of $33.70 and a 1 year high of $49.55. The firm has a market cap of $4.41 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64. The stock has a 50-day simple moving average of $38.31 and a 200-day simple moving average of $41.37.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.06. Silgan had a net margin of 3.90% and a return on equity of 16.73%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period last year, the business earned $1.22 EPS. The business's revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that Silgan Holdings Inc. will post 3.87 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 1st. Silgan's dividend payout ratio (DPR) is currently 33.87%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings lowered Silgan from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, October 13th. BMO Capital Markets began coverage on Silgan in a research report on Thursday, July 16th. They set an "outperform" rating and a $57.00 price objective for the company. UBS Group set a $38.00 target price on Silgan and gave the company a "neutral" rating in a research note on Monday, October 5th. Truist Financial boosted their target price on Silgan from $45.00 to $46.00 and gave the company a "buy" rating in a report on Friday, October 30th. Finally, Citigroup upped their price target on Silgan from $49.00 to $50.00 and gave the stock a "buy" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Silgan currently has a consensus rating of "Moderate Buy" and an average price target of $50.70.

About Silgan

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.

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