Walthausen & Co. LLC decreased its holdings in Silgan Holdings Inc. (NASDAQ:SLGN) by 30.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,600 shares of the industrial products company’s stock after selling 28,750 shares during the quarter. Walthausen & Co. LLC owned approximately 0.06% of Silgan worth $2,070,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of Silgan by 4,705.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,275,650 shares of the industrial products company’s stock valued at $70,227,000 after acquiring an additional 2,228,294 shares during the last quarter. Man Group plc raised its holdings in shares of Silgan by 262.5% during the fourth quarter. Man Group plc now owns 468,987 shares of the industrial products company’s stock worth $14,576,000 after acquiring an additional 339,602 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Silgan by 1,423.3% during the third quarter. Millennium Management LLC now owns 321,696 shares of the industrial products company’s stock worth $9,662,000 after acquiring an additional 300,578 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Silgan by 28.8% during the fourth quarter. Bank of America Corp DE now owns 782,534 shares of the industrial products company’s stock worth $24,322,000 after acquiring an additional 175,138 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Silgan by 1,682.1% during the fourth quarter. Assetmark Inc. now owns 93,349 shares of the industrial products company’s stock worth $2,901,000 after acquiring an additional 88,111 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.
SLGN traded up $0.93 during midday trading on Thursday, reaching $27.67. 824,200 shares of the company’s stock were exchanged, compared to its average volume of 596,742. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 1.84 and a beta of 0.71. The company has a quick ratio of 0.76, a current ratio of 1.38 and a debt-to-equity ratio of 2.16. Silgan Holdings Inc. has a one year low of $24.65 and a one year high of $32.80. The business has a 50-day simple moving average of $29.83 and a two-hundred day simple moving average of $30.37.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.73%. This is a boost from Silgan’s previous quarterly dividend of $0.11. Silgan’s payout ratio is 22.22%.
Several analysts recently issued reports on SLGN shares. Royal Bank of Canada upgraded Silgan from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $32.00 to $34.00 in a report on Friday, March 20th. ValuEngine raised Silgan from a “sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Bank of America raised Silgan from an “underperform” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Monday, March 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $41.00 price target on shares of Silgan in a research report on Tuesday, January 28th. Finally, BidaskClub raised Silgan from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.50.
Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
Further Reading: Asset Allocation
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