Teacher Retirement System of Texas Has $1.59 Million Stock Position in Silgan Holdings Inc. $SLGN

Teacher Retirement System of Texas lessened its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 24.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,890 shares of the industrial products company’s stock after selling 12,101 shares during the quarter. Teacher Retirement System of Texas’ holdings in Silgan were worth $1,587,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Silgan by 19.6% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 46,986 shares of the industrial products company’s stock valued at $2,021,000 after purchasing an additional 7,694 shares during the period. Verdence Capital Advisors LLC boosted its stake in Silgan by 20.8% in the third quarter. Verdence Capital Advisors LLC now owns 11,007 shares of the industrial products company’s stock valued at $492,000 after acquiring an additional 1,898 shares during the last quarter. Inspire Advisors LLC grew its holdings in Silgan by 30.6% during the 3rd quarter. Inspire Advisors LLC now owns 4,902 shares of the industrial products company’s stock worth $211,000 after acquiring an additional 1,149 shares during the period. Amalgamated Bank raised its position in shares of Silgan by 8.6% during the 3rd quarter. Amalgamated Bank now owns 40,519 shares of the industrial products company’s stock valued at $1,743,000 after acquiring an additional 3,203 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Silgan by 7.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 825,057 shares of the industrial products company’s stock valued at $35,486,000 after acquiring an additional 55,288 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Silgan

In other Silgan news, CAO Kimberly Irene Ulmer purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of $38.11 per share, for a total transaction of $38,110.00. Following the completion of the purchase, the chief accounting officer owned 105,321 shares of the company’s stock, valued at approximately $4,013,783.31. The trade was a 0.96% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SLGN. Wells Fargo & Company lowered their target price on shares of Silgan from $55.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Truist Financial set a $50.00 price objective on shares of Silgan and gave the company a “buy” rating in a research report on Tuesday, January 6th. Citigroup reduced their target price on Silgan from $49.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Royal Bank Of Canada downgraded Silgan from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $49.00 to $43.00 in a report on Thursday, January 15th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Silgan in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.38.

Silgan Stock Up 1.0%

NYSE:SLGN opened at $43.15 on Friday. Silgan Holdings Inc. has a twelve month low of $36.15 and a twelve month high of $57.04. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. The company has a quick ratio of 0.85, a current ratio of 1.27 and a debt-to-equity ratio of 1.68. The stock’s 50 day moving average price is $41.00 and its two-hundred day moving average price is $43.33.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.01. Silgan had a net margin of 4.91% and a return on equity of 19.47%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the firm earned $1.21 EPS. Silgan’s quarterly revenue was up 15.2% compared to the same quarter last year. Equities research analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.20 per share. The ex-dividend date was Monday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.9%. Silgan’s dividend payout ratio (DPR) is presently 27.21%.

About Silgan

Silgan Holdings Inc (NYSE: SLGN) is a leading supplier of rigid packaging solutions for consumer goods manufacturers. The company’s core business activities center on the design, production and distribution of metal and plastic containers, closures and dispense systems. Silgan serves a broad array of end markets, including food and beverage, home and personal care, health care and industrial products, providing both standard and custom packaging formats.

Founded in 1987 and headquartered in Stamford, Connecticut, Silgan has grown organically and through strategic acquisitions to establish a global manufacturing footprint.