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

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

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

Silgan Trading Up 1.0%

Shares of Silgan stock opened at $43.15 on Friday. The stock has a market capitalization of $4.56 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.90 and a beta of 0.72. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.85 and a current ratio of 1.27. The stock’s 50-day simple moving average is $41.00 and its 200 day simple moving average is $43.33. Silgan Holdings Inc. has a 52-week low of $36.15 and a 52-week high of $57.04.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.21 by $0.01. Silgan had a return on equity of 19.47% and a net margin of 4.91%.The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company earned $1.21 EPS. The firm’s revenue was up 15.2% compared to the same quarter last year. As a group, research analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, December 1st. Silgan’s dividend payout ratio is currently 27.21%.

Insider Buying and Selling at Silgan

In related news, CAO Kimberly Irene Ulmer bought 1,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was acquired at an average cost of $38.11 per share, for a total transaction of $38,110.00. Following the completion of the transaction, the chief accounting officer directly owned 105,321 shares in the company, valued at $4,013,783.31. This trade represents a 0.96% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.13% of the company’s stock.

Analyst Ratings Changes

SLGN has been the subject of several recent research reports. Zacks Research raised Silgan from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Royal Bank Of Canada lowered shares of Silgan from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $49.00 to $43.00 in a research note on Thursday, January 15th. Truist Financial set a $50.00 target price on Silgan and gave the company a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Silgan in a research note on Monday, December 29th. Finally, Wells Fargo & Company cut their price target on Silgan from $55.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.38.

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.