Verity Asset Management Inc. Purchases Shares of 4,904 Silgan Holdings Inc. (NYSE:SLGN)

Verity Asset Management Inc. purchased a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,904 shares of the industrial products company’s stock, valued at approximately $255,000.

Other hedge funds also recently bought and sold shares of the company. Nicola Wealth Management LTD. raised its position in shares of Silgan by 24.4% during the third quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock valued at $5,087,000 after buying an additional 19,000 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Silgan during the third quarter valued at about $2,975,000. BNP Paribas Financial Markets raised its position in shares of Silgan by 144.1% during the third quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock valued at $2,884,000 after buying an additional 32,432 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Silgan by 1.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock valued at $137,047,000 after buying an additional 29,565 shares during the last quarter. Finally, Versor Investments LP raised its position in shares of Silgan by 112.7% during the third quarter. Versor Investments LP now owns 10,208 shares of the industrial products company’s stock valued at $536,000 after buying an additional 5,408 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

Silgan Stock Performance

NYSE SLGN opened at $54.71 on Wednesday. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.26 and a beta of 0.71. The company has a 50 day moving average of $53.55 and a 200-day moving average of $52.09. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. On average, equities analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SLGN. Royal Bank of Canada upped their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Robert W. Baird increased their price target on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Bank of America increased their price target on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their price target on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company increased their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $64.22.

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.