Allspring Global Investments Holdings LLC Cuts Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Allspring Global Investments Holdings LLC cut its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,479,642 shares of the industrial products company’s stock after selling 130,779 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.32% of Silgan worth $126,586,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLGN. Wealth Enhancement Advisory Services LLC increased its stake in Silgan by 7.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 361 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Silgan by 5.5% in the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock valued at $390,000 after buying an additional 388 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Silgan by 5.7% in the 3rd quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company’s stock worth $441,000 after buying an additional 456 shares in the last quarter. KBC Group NV grew its stake in 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 acquiring an additional 494 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Silgan by 51.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock valued at $93,000 after acquiring an additional 606 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Price Performance

NYSE SLGN opened at $52.98 on Wednesday. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The company has a market cap of $5.66 billion, a PE ratio of 20.53, a PEG ratio of 1.24 and a beta of 0.71. The stock’s 50-day moving average price is $53.20 and its two-hundred day moving average price is $52.35.

Silgan (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. On average, analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Analysts Set New Price Targets

SLGN has been the topic of several recent research reports. Robert W. Baird upped their price target on shares of Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Loop Capital upped their target price on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada raised their price target on Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Raymond James upped their price objective on Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Bank of America lifted their price target on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Silgan Profile

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.