State of Alaska Department of Revenue Sells 124,905 Shares of Silgan Holdings Inc. $SLGN

Key Points

• State of Alaska Department of Revenue cut its Silgan Holdings stake by 93.7%, selling 124,905 shares and retaining 8,413 shares worth approximately $292,000. Institutional investors and hedge funds collectively own 70.25% of SLGN.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $50.40, compared with the stock’s reported price of $39.09.
• Silgan reported quarterly EPS of $0.98, slightly ahead of estimates, on revenue of $1.64 billion, up 6.8% year over year. The company also pays a quarterly dividend of $0.21 per share, for an annualized yield of about 2.1%.

State of Alaska Department of Revenue lessened its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 93.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,413 shares of the industrial products company's stock after selling 124,905 shares during the quarter. State of Alaska Department of Revenue's holdings in Silgan were worth $292,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SLGN. BlackRock Inc. bought a new stake in Silgan in the 2nd quarter valued at about $369,406,000. Bank of America Corp DE bought a new position in Silgan in the second quarter worth approximately $101,368,000. Jupiter Topco LLC bought a new position in Silgan in the second quarter worth approximately $62,526,000. Atlas FRM LLC acquired a new stake in Silgan in the second quarter valued at approximately $48,245,600. Finally, Bank of New York Mellon Corp acquired a new stake in Silgan in the second quarter valued at approximately $38,851,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLGN has been the subject of several recent research reports. Royal Bank Of Canada set a $47.00 price objective on Silgan and gave the company an "outperform" rating in a report on Tuesday, October 13th. Truist Financial set a $45.00 target price on Silgan and gave the stock a "buy" rating in a research report on Monday, October 12th. UBS Group set a $38.00 target price on Silgan and gave the stock a "neutral" rating in a report on Monday, October 5th. Raymond James Financial reissued an "outperform" rating and issued a $59.00 price target on shares of Silgan in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $52.00 price target (down from $56.00) on shares of Silgan in a research note on Monday, October 19th. One equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.40.

Silgan Trading Down 0.5%

SLGN opened at $39.09 on Tuesday. Silgan Holdings Inc. has a fifty-two week low of $33.70 and a fifty-two week high of $49.55. The firm has a market capitalization of $4.13 billion, a PE ratio of 15.33, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.27 and a quick ratio of 0.80. The company's 50-day moving average is $38.53 and its 200 day moving average is $41.44.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.02. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. Silgan had a return on equity of 16.74% and a net margin of 4.05%. The company's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. 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, research analysts predict that Silgan Holdings Inc. will post 3.81 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.21 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.84 annualized dividend and a yield of 2.1%. Silgan's dividend payout ratio is 32.94%.

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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