Silgan Holdings Inc. $SLGN Stock Holdings Lifted by New York State Common Retirement Fund

New York State Common Retirement Fund grew its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 23.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 230,660 shares of the industrial products company’s stock after acquiring an additional 44,466 shares during the period. New York State Common Retirement Fund’s holdings in Silgan were worth $9,921,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Silgan during the second quarter valued at $48,626,000. William Blair Investment Management LLC purchased a new stake in Silgan during the second quarter valued at about $29,053,000. Jane Street Group LLC acquired a new position in shares of Silgan in the first quarter worth about $9,892,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Silgan by 203.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 149,033 shares of the industrial products company’s stock worth $8,075,000 after buying an additional 100,000 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its position in shares of Silgan by 18.9% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 587,179 shares of the industrial products company’s stock worth $25,255,000 after acquiring an additional 93,525 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Zacks Research raised shares of Silgan from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Wells Fargo & Company decreased their target price on Silgan from $55.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Citigroup dropped their price target on Silgan from $49.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. UBS Group reissued a “neutral” rating and issued a $44.00 price objective (up from $42.00) on shares of Silgan in a research note on Monday, January 12th. Finally, Truist Financial set a $50.00 price objective on Silgan and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.38.

Silgan Stock Up 1.4%

SLGN opened at $43.78 on Wednesday. The company has a market capitalization of $4.63 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.92 and a beta of 0.72. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.27 and a quick ratio of 0.85. Silgan Holdings Inc. has a fifty-two week low of $36.15 and a fifty-two week high of $57.04. The business has a 50-day moving average of $41.18 and a 200-day moving average of $43.09.

Insiders Place Their Bets

In other Silgan news, CAO Kimberly Irene Ulmer acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average price of $38.11 per share, with a total value of $38,110.00. Following the completion of the transaction, the chief accounting officer owned 105,321 shares in the company, valued at $4,013,783.31. The trade was a 0.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.13% of the company’s stock.

About Silgan

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.