CenterBook Partners LP Makes New Investment in Silgan Holdings Inc. $SLGN

CenterBook Partners LP acquired a new position in shares of Silgan Holdings Inc. (NYSE:SLGN) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 23,966 shares of the industrial products company’s stock, valued at approximately $833,000.

A number of other institutional investors also recently bought and sold shares of SLGN. BlackRock Inc. acquired a new position in Silgan in the 2nd quarter valued at about $369,406,000. Dimensional Fund Advisors LP lifted its position in Silgan by 11.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,893,768 shares of the industrial products company’s stock worth $189,871,000 after acquiring an additional 505,813 shares during the period. Bank of America Corp DE purchased a new position in shares of Silgan in the 2nd quarter valued at approximately $101,368,000. Jupiter Topco LLC purchased a new position in shares of Silgan in the 2nd quarter valued at approximately $62,526,000. Finally, Atlas FRM LLC acquired a new position in shares of Silgan in the second quarter valued at approximately $48,245,600. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on SLGN. Truist Financial upped their price target on Silgan from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Citigroup lifted 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, November 2nd. BMO Capital Markets started coverage on shares of Silgan in a research note on Thursday, July 16th. They issued an “outperform” rating and a $57.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of Silgan from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Finally, UBS Group set a $38.00 price objective on shares of Silgan and gave the stock a “neutral” rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.70.

Silgan Price Performance

Shares of NYSE:SLGN opened at $41.76 on Wednesday. Silgan Holdings Inc. has a 52 week low of $33.70 and a 52 week high of $49.55. The company has a 50-day moving average price of $38.30 and a 200 day moving average price of $41.35. The company has a market cap of $4.41 billion, a P/E ratio of 16.84, a PEG ratio of 2.46 and a beta of 0.64. The company has a quick ratio of 0.95, a current ratio of 1.35 and a debt-to-equity ratio of 1.47.

Silgan (NYSE:SLGN) last released its earnings results on Thursday, October 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Silgan had a return on equity of 16.73% and a net margin of 3.90%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts predict that Silgan Holdings Inc. will post 3.87 earnings per share for the current year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.21 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. Silgan’s payout ratio is 33.87%.

About Silgan

Silgan Holdings Inc. is a manufacturer of rigid packaging for consumer goods. Its products include metal containers, dispensing and specialty closures, and custom plastic containers used for food, beverages, pet food, personal care, and health care products. The company serves consumer-products companies across North America and international markets, with manufacturing operations in multiple regions. Silgan was founded in 1987 and is headquartered in Stamford, Connecticut.