GHP Investment Advisors Inc. Increases Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

GHP Investment Advisors Inc. grew its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 122,572 shares of the industrial products company’s stock after buying an additional 1,649 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Silgan were worth $6,435,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised its position in Silgan by 256.6% in the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 426 shares during the last quarter. Versant Capital Management Inc increased its stake in Silgan by 2,838.5% in the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 1,107 shares during the period. GAMMA Investing LLC raised its holdings in shares of Silgan by 109.9% in the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after buying an additional 613 shares during the last quarter. Covestor Ltd boosted its stake in shares of Silgan by 69.7% during the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after buying an additional 462 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Silgan during the second quarter worth about $70,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Trading Down 0.1 %

Shares of SLGN opened at $50.90 on Friday. Silgan Holdings Inc. has a twelve month low of $38.67 and a twelve month high of $52.84. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $5.44 billion, a P/E ratio of 17.86, a PEG ratio of 1.23 and a beta of 0.67. The firm’s 50-day moving average is $51.15 and its two-hundred day moving average is $47.99.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. On average, research analysts predict that Silgan Holdings Inc. will post 3.65 earnings per share for the current fiscal year.

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.49%. Silgan’s dividend payout ratio is presently 26.67%.

Insider Activity at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the transaction, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SLGN shares. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $46.00 to $53.00 in a report on Thursday, August 1st. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Truist Financial reaffirmed a “buy” rating and issued a $59.00 target price (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. Robert W. Baird increased their price target on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada lifted their price objective on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Silgan has an average rating of “Moderate Buy” and a consensus target price of $57.00.

About Silgan

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.