Kapitalo Investimentos Ltda Makes New $249,000 Investment in Silgan Holdings Inc. (NYSE:SLGN)

Kapitalo Investimentos Ltda bought a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,752 shares of the industrial products company’s stock, valued at approximately $249,000.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Silgan by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock worth $202,123,000 after purchasing an additional 246,813 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Silgan by 4.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,417,003 shares of the industrial products company’s stock worth $117,370,000 after buying an additional 93,040 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Silgan by 2.6% in the first quarter. State of Michigan Retirement System now owns 19,900 shares of the industrial products company’s stock worth $966,000 after buying an additional 500 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Silgan by 2.6% during the first quarter. Principal Financial Group Inc. now owns 304,950 shares of the industrial products company’s stock valued at $14,808,000 after acquiring an additional 7,615 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in Silgan by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 101,639 shares of the industrial products company’s stock worth $4,936,000 after acquiring an additional 268 shares during the last quarter. 70.25% of the stock is owned by institutional investors.

Silgan Price Performance

Shares of NYSE:SLGN opened at $51.55 on Thursday. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $5.50 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.48 and a beta of 0.67. The firm’s 50 day moving average price is $50.85 and its 200-day moving average price is $47.84. Silgan Holdings Inc. has a twelve month low of $38.11 and a twelve month high of $52.84.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, topping the consensus estimate 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 net margin of 5.24% and a return on equity of 19.22%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS. Equities research analysts expect that Silgan Holdings Inc. will post 3.66 EPS for the current year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.47%. Silgan’s payout ratio is currently 26.67%.

Insider Activity at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the transaction, the vice president now owns 11,495 shares of the company’s stock, valued at $563,714.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Truist Financial reiterated a “buy” rating and set a $59.00 target price (up from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Royal Bank of Canada lifted their price objective on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, Citigroup boosted their price objective on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Silgan Company Profile

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.