Quest Partners LLC Sells 18,592 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Quest Partners LLC reduced its position in Silgan Holdings Inc. (NYSE:SLGN) by 35.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,271 shares of the industrial products company’s stock after selling 18,592 shares during the period. Quest Partners LLC’s holdings in Silgan were worth $1,747,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in Silgan by 256.6% in the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 426 shares in the last quarter. Covestor Ltd boosted its position in shares of Silgan by 69.7% in the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 462 shares in the last quarter. Versant Capital Management Inc grew its stake in Silgan by 2,838.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after buying an additional 1,107 shares during the last quarter. GAMMA Investing LLC increased its position in Silgan by 109.9% during the 2nd 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 in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Silgan by 220.4% in the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after buying an additional 963 shares during the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Silgan Trading Up 1.2 %

Shares of Silgan stock opened at $54.20 on Tuesday. The stock has a market cap of $5.79 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 1.40 and a beta of 0.67. The firm has a fifty day moving average price of $51.86 and a 200 day moving average price of $48.68. Silgan Holdings Inc. has a 1 year low of $40.88 and a 1 year high of $55.32. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The business’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts predict that Silgan Holdings Inc. will post 3.6 earnings per share for the current year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.40%. Silgan’s payout ratio is 27.54%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SLGN shares. Citigroup boosted their price target on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada upped their price target on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, Truist Financial restated a “buy” rating and issued a $59.00 target price (up previously from $56.00) on shares of Silgan in a research note 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.com, the company has an average rating of “Moderate Buy” and an average target price of $57.43.

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.