Janus Henderson Group PLC Sells 132,483 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Janus Henderson Group PLC cut its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,113,692 shares of the industrial products company’s stock after selling 132,483 shares during the period. Janus Henderson Group PLC’s holdings in Silgan were worth $58,468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLGN. Blue Trust Inc. raised its stake in shares of Silgan by 256.6% in the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 426 shares during the period. GAMMA Investing LLC raised its stake in shares of Silgan by 109.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 613 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 963 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Silgan in the 2nd quarter valued at about $70,000. Finally, KBC Group NV raised its stake in shares of Silgan by 27.7% in the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 494 shares during the period. 70.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SLGN. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada lifted their target price on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan Trading Up 0.1 %

Silgan stock opened at $56.51 on Friday. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. The stock has a market capitalization of $6.03 billion, a P/E ratio of 20.47, a PEG ratio of 1.49 and a beta of 0.69. The stock has a 50-day simple moving average of $53.21 and a 200 day simple moving average of $49.46.

Silgan (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts expect that Silgan Holdings Inc. will post 3.6 earnings per share for the current year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Monday, December 2nd. Silgan’s payout ratio is currently 27.54%.

About Silgan

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers a range of metal and plastic closures, and dispensing systems for food, beverage, health care, garden, home, personal care, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.