Glenmede Trust Co. NA Sells 4,790 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Glenmede Trust Co. NA lowered its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 1.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 318,282 shares of the industrial products company’s stock after selling 4,790 shares during the quarter. Glenmede Trust Co. NA’s holdings in Silgan were worth $16,710,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. grew its stake in shares of Silgan by 256.6% in the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 426 shares in the last quarter. Versant Capital Management Inc grew its position in Silgan by 2,838.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 1,107 shares in the last quarter. GAMMA Investing LLC increased its stake in Silgan by 109.9% in 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 during the last quarter. Headlands Technologies LLC bought a new position in shares of Silgan during the 2nd quarter worth approximately $70,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after buying an additional 963 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SLGN shares. Citigroup increased their price target on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Wells Fargo & Company increased their price target on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Finally, Robert W. Baird increased their target price on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Silgan Price Performance

Shares of NYSE:SLGN opened at $57.45 on Friday. The company has a 50-day moving average price of $52.64 and a two-hundred day moving average price of $49.12. Silgan Holdings Inc. has a twelve month low of $40.88 and a twelve month high of $58.14. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $6.14 billion, a PE ratio of 20.82, a P/E/G ratio of 1.50 and a beta of 0.67.

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). The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Equities analysts forecast that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.19 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.32%. Silgan’s dividend payout ratio is currently 27.54%.

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.