39,580 Shares in Silgan Holdings Inc. $SLGN Bought by VCI Wealth Management LLC

VCI Wealth Management LLC acquired a new stake in Silgan Holdings Inc. (NYSE:SLGN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 39,580 shares of the industrial products company’s stock, valued at approximately $1,375,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in shares of Silgan by 33.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,243 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 309 shares during the period. Parkside Financial Bank & Trust lifted its position in Silgan by 105.6% in the second quarter. Parkside Financial Bank & Trust now owns 627 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 322 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Silgan by 2.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 17,953 shares of the industrial products company’s stock worth $697,000 after purchasing an additional 400 shares during the period. State of Michigan Retirement System boosted its stake in Silgan by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 21,100 shares of the industrial products company’s stock valued at $819,000 after purchasing an additional 400 shares in the last quarter. Finally, Choreo LLC boosted its stake in Silgan by 3.1% during the 3rd quarter. Choreo LLC now owns 19,970 shares of the industrial products company’s stock valued at $694,000 after purchasing an additional 605 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SLGN. Truist Financial lifted their target price on Silgan from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings downgraded shares of Silgan from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, October 13th. Citigroup raised their price objective on shares of Silgan from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Monday. Raymond James Financial reaffirmed an “outperform” rating and issued a $59.00 price objective on shares of Silgan in a research note on Wednesday, July 15th. Finally, UBS Group set a $38.00 target price on shares of Silgan and gave the stock a “neutral” rating in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Silgan currently has a consensus rating of “Moderate Buy” and an average price target of $50.70.

Silgan Stock Performance

Shares of SLGN stock opened at $42.57 on Tuesday. Silgan Holdings Inc. has a 1-year low of $33.70 and a 1-year high of $49.55. The company has a current ratio of 1.27, a quick ratio of 0.80 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 2.21 and a beta of 0.67. The stock’s fifty day simple moving average is $38.36 and its 200-day simple moving average is $41.38.

Silgan (NYSE:SLGN) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.10 billion. Silgan had a return on equity of 16.74% and a net margin of 4.05%. Silgan’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 earnings per share. On average, sell-side analysts predict that Silgan Holdings Inc. will post 3.89 earnings per share for the current fiscal year.

About Silgan

Silgan Holdings Inc (NYSE: SLGN) is a manufacturer of rigid packaging products used by consumer goods companies. The company produces metal containers, plastic containers and specialty closures for food, beverage, personal care, household, healthcare, industrial and other products.

Silgan’s metal packaging business supplies cans and containers for food, pet food, paint, chemicals, aerosols and other applications. Its plastic packaging operations manufacture bottles, tubs and other containers, while its closures business produces metal and plastic caps, lids and dispensing systems for a range of consumer and industrial products.

Founded in 1987, Silgan serves customers primarily across North America and Europe through a network of manufacturing facilities.