Cibc World Market Inc. Takes $1 Million Position in Silgan Holdings Inc. $SLGN

by · The Markets Daily

Cibc World Market Inc. acquired a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 21,656 shares of the industrial products company’s stock, valued at approximately $1,005,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in Silgan during the 4th quarter valued at about $30,813,000. William Blair Investment Management LLC raised its stake in shares of Silgan by 11.5% in the fourth quarter. William Blair Investment Management LLC now owns 666,415 shares of the industrial products company’s stock worth $26,903,000 after purchasing an additional 68,611 shares during the last quarter. Comerica Bank raised its stake in shares of Silgan by 65.7% in the fourth quarter. Comerica Bank now owns 74,325 shares of the industrial products company’s stock worth $3,000,000 after purchasing an additional 29,480 shares during the last quarter. Buckland Partners Management Co LLC bought a new position in shares of Silgan in the second quarter valued at approximately $6,439,000. Finally, Quantinno Capital Management LP lifted its holdings in shares of Silgan by 15.1% in the first quarter. Quantinno Capital Management LP now owns 179,341 shares of the industrial products company’s stock valued at $6,958,000 after purchasing an additional 23,485 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Stock Performance

SLGN stock opened at $41.84 on Friday. The firm has a market cap of $4.42 billion, a PE ratio of 16.41, a P/E/G ratio of 2.50 and a beta of 0.68. The company has a quick ratio of 0.80, a current ratio of 1.27 and a debt-to-equity ratio of 1.54. The business has a 50 day moving average of $43.78 and a 200-day moving average of $42.22. Silgan Holdings Inc. has a 12-month low of $35.68 and a 12-month high of $49.55.

Silgan (NYSE:SLGN – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Silgan had a return on equity of 16.74% and a net margin of 4.05%.The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the business posted $1.01 earnings per share. Silgan’s revenue was up 6.8% on a year-over-year basis. Silgan has set its FY 2026 guidance at 3.730-3.930 EPS and its Q3 2026 guidance at 1.210-1.310 EPS. As a group, sell-side analysts expect that Silgan Holdings Inc. will post 3.82 earnings per share for the current year.

Silgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.84 annualized dividend and a dividend yield of 2.0%. Silgan’s dividend payout ratio (DPR) is currently 32.94%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Bank of America upped their price target on Silgan from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. BMO Capital Markets assumed coverage on Silgan in a research note on Thursday, July 16th. They set an “outperform” rating and a $57.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Silgan from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Citigroup reduced their target price on shares of Silgan from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $56.00 target price (up from $55.00) on shares of Silgan in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Silgan presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Check Out Our Latest Stock Report on SLGN

About Silgan

(Free Report)

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.

See Also

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