The Manufacturers Life Insurance Company Acquires New Shares in Silgan Holdings Inc. $SLGN

Key Points

• The Manufacturers Life Insurance Company acquired 59,655 Silgan Holdings shares worth approximately $2.77 million, while institutional investors collectively own 70.25% of the company.
• Silgan exceeded quarterly expectations with $0.98 EPS versus $0.96 estimated and $1.64 billion in revenue, up 6.8% year over year. The company projects fiscal 2026 EPS of $3.73–$3.93.
• Silgan declared a quarterly dividend of $0.21, equivalent to an annualized $0.84 payout and a 2.0% yield. Analysts maintain a “Moderate Buy” consensus rating with a $54 average price target.

The Manufacturers Life Insurance Company bought a new position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 59,655 shares of the industrial products company's stock, valued at approximately $2,767,000. The Manufacturers Life Insurance Company owned approximately 0.06% of Silgan as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SLGN. Keating Financial Advisory Services Inc. acquired a new position in shares of Silgan during the 2nd quarter worth $28,000. Allworth Financial LP purchased a new stake in shares of Silgan in the 2nd quarter worth about $28,000. Caitong International Asset Management Co. Ltd grew its stake in Silgan by 2,525.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 735 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 707 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Silgan during the 3rd quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Silgan by 627.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 669 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 577 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Silgan Stock Performance

Shares of NYSE SLGN opened at $41.38 on Wednesday. The company has a 50-day simple moving average of $43.77 and a 200-day simple moving average of $42.07. 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 has a market cap of $4.37 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 2.42 and a beta of 0.68. Silgan Holdings Inc. has a 12 month low of $35.68 and a 12 month high of $49.55.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. Silgan had a net margin of 4.05% and a return on equity of 16.74%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Silgan has set its FY 2026 guidance at 3.730-3.930 EPS and its Q3 2026 guidance at 1.210-1.310 EPS. On average, equities analysts anticipate that Silgan Holdings Inc. will post 3.82 earnings per share for the current year.

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. Silgan's payout ratio is currently 32.94%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SLGN. Raymond James Financial reaffirmed an "outperform" rating and issued a $59.00 price target on shares of Silgan in a report on Wednesday, July 15th. Royal Bank Of Canada upgraded Silgan from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $51.00 to $58.00 in a research report on Thursday, August 13th. BMO Capital Markets started coverage on Silgan in a research note on Thursday, July 16th. They issued an "outperform" rating and a $57.00 target price on the stock. UBS Group set a $47.00 target price on Silgan and gave the company a "neutral" rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised Silgan from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $54.00.

About Silgan

Silgan Holdings Inc NYSE: SLGN is a leading supplier of rigid packaging solutions for consumer goods manufacturers. The company's core business activities center on the design, production and distribution of metal and plastic containers, closures and dispense systems. Silgan serves a broad array of end markets, including food and beverage, home and personal care, health care and industrial products, providing both standard and custom packaging formats.

Founded in 1987 and headquartered in Stamford, Connecticut, Silgan has grown organically and through strategic acquisitions to establish a global manufacturing footprint.

Want to see what other hedge funds are holding SLGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silgan Holdings Inc. (NYSE:SLGN - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source