Hotchkis & Wiley Capital Management LLC Purchases 62,310 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Hotchkis & Wiley Capital Management LLC lifted its position in Silgan Holdings Inc. (NYSE:SLGN) by 46.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,895 shares of the industrial products company’s stock after acquiring an additional 62,310 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in Silgan were worth $10,284,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SLGN. Blue Trust Inc. raised its holdings in shares of 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. 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 acquiring an additional 613 shares in the last quarter. Headlands Technologies LLC bought a new position in Silgan in the second quarter worth about $70,000. Venturi Wealth Management LLC raised its holdings 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 worth $74,000 after purchasing an additional 963 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Silgan in the second quarter worth about $104,000. 70.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SLGN has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on shares of Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Silgan has a consensus rating of “Moderate Buy” and an average target price of $57.43.

Silgan Price Performance

Shares of SLGN stock opened at $56.41 on Thursday. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 1.50 and a beta of 0.69. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. The stock’s 50-day simple moving average is $53.10 and its 200-day simple moving average is $49.42.

Silgan (NYSE:SLGN) last issued its quarterly earnings results 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 return on equity of 18.76% and a net margin of 5.11%. The business 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 firm posted $1.16 EPS. Silgan’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts forecast that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The firm also recently declared 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 1.35%. Silgan’s payout ratio is 27.54%.

Silgan 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.