Bernzott Capital Advisors Boosts Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Bernzott Capital Advisors lifted its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,227 shares of the industrial products company’s stock after acquiring an additional 775 shares during the period. Silgan accounts for approximately 3.5% of Bernzott Capital Advisors’ holdings, making the stock its 8th biggest holding. Bernzott Capital Advisors’ holdings in Silgan were worth $8,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of Silgan by 256.6% during the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 426 shares during the period. Covestor Ltd grew its stake in shares of Silgan by 69.7% during the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after buying an additional 462 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Silgan by 2,838.5% in the second 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 period. GAMMA Investing LLC lifted its position in shares of Silgan by 109.9% during the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 613 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Silgan in the 2nd quarter worth about $70,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SLGN. Royal Bank of Canada upped their target price on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their price target on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $59.00 price objective (up previously from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Robert W. Baird raised their target price on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $46.00 to $53.00 in a research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Insider Buying and Selling at Silgan

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

Silgan Stock Performance

Shares of NYSE:SLGN traded down $0.32 on Tuesday, hitting $50.84. 87,126 shares of the company were exchanged, compared to its average volume of 557,318. The firm has a market capitalization of $5.43 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.22 and a beta of 0.67. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. Silgan Holdings Inc. has a 1-year low of $39.42 and a 1-year high of $52.84. The stock’s 50 day moving average price is $51.17 and its 200 day moving average price is $48.00.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. Sell-side analysts predict that Silgan Holdings Inc. will post 3.65 EPS for the current year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, September 3rd. Silgan’s dividend payout ratio is presently 26.67%.

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.