Wipfli Financial Advisors LLC Takes $29,000 Position in Silgan Holdings Inc. (NYSE:SLGN)

Wipfli Financial Advisors LLC purchased a new position in Silgan Holdings Inc. (NYSE:SLGN – Get Rating) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 695 shares of the industrial products company’s stock, valued at approximately $29,000.

Other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in shares of Silgan by 58.8% in the second quarter. Quadrant Capital Group LLC now owns 629 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 233 shares during the last quarter. Eagle Bay Advisors LLC boosted its stake in shares of Silgan by 151.1% in the second quarter. Eagle Bay Advisors LLC now owns 836 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 503 shares during the last quarter. Pinebridge Investments L.P. boosted its stake in shares of Silgan by 439.0% in the second quarter. Pinebridge Investments L.P. now owns 1,078 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 878 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Silgan by 65.2% in the first quarter. Captrust Financial Advisors now owns 1,895 shares of the industrial products company’s stock worth $88,000 after acquiring an additional 748 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Silgan in the first quarter worth approximately $89,000. 68.21% of the stock is owned by institutional investors and hedge funds.

Silgan Price Performance

NYSE:SLGN opened at $50.82 on Friday. Silgan Holdings Inc. has a 52 week low of $38.59 and a 52 week high of $54.59. The company has a quick ratio of 0.88, a current ratio of 1.39 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $5.59 billion, a P/E ratio of 14.12, a P/E/G ratio of 2.66 and a beta of 0.81. The stock’s fifty day moving average is $52.16 and its two-hundred day moving average is $47.59.

Silgan (NYSE:SLGN – Get Rating) last posted its earnings results on Wednesday, October 26th. The industrial products company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.05. Silgan had a return on equity of 26.81% and a net margin of 6.27%. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.85 billion. Equities analysts expect that Silgan Holdings Inc. will post 3.96 EPS for the current year.

Silgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were given a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.26%. Silgan’s dividend payout ratio is currently 17.78%.

Wall Street Analysts Forecast Growth

SLGN has been the topic of a number of research analyst reports. Citigroup lifted their price target on Silgan from $49.00 to $53.00 in a research note on Wednesday, January 4th. Truist Financial raised Silgan from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Thursday, January 5th. StockNews.com initiated coverage on Silgan in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Wells Fargo & Company boosted their price objective on Silgan from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, January 9th. Finally, Royal Bank of Canada boosted their price objective on Silgan from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, October 28th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.50.

Silgan Company Profile

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Silgan Holdings, Inc engages in the manufacture and sale of rigid packaging for consumer goods products. It operates through the following business segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers dispensing and specialty closures for food, beverage, health care, garden, home, personal care, fragrance, and beauty products.