LSV Asset Management lessened its holdings in Silgan Holdings Inc. (NYSE:SLGN – Free Report) by 77.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,900 shares of the industrial products company’s stock after selling 125,400 shares during the quarter. LSV Asset Management’s holdings in Silgan were worth $1,544,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its stake in Silgan by 174.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 497 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 316 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Silgan by 359.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 634 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 496 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Silgan by 627.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 669 shares of the industrial products company’s stock worth $36,000 after buying an additional 577 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Silgan during the 2nd quarter worth approximately $40,000. Finally, Quent Capital LLC acquired a new stake in Silgan in the 3rd quarter valued at $49,000. 70.25% of the stock is owned by institutional investors.
Silgan Price Performance
SLGN opened at $48.65 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.49 and a quick ratio of 0.31. The stock has a market capitalization of $5.14 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.72. The company’s 50 day simple moving average is $42.89 and its 200-day simple moving average is $42.76. Silgan Holdings Inc. has a one year low of $36.15 and a one year high of $57.04.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on SLGN shares. JPMorgan Chase & Co. increased their price objective on Silgan from $44.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Raymond James Financial reissued a “market perform” rating on shares of Silgan in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Silgan in a research note on Monday, December 29th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $49.00 price objective (up previously from $43.00) on shares of Silgan in a report on Thursday, February 5th. Finally, UBS Group reissued a “neutral” rating and issued a $50.00 target price (up from $44.00) on shares of Silgan in a report on Thursday, February 5th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Silgan presently has a consensus rating of “Moderate Buy” and an average target price of $52.88.
Read Our Latest Stock Analysis on SLGN
Silgan Company Profile
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.
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