Allspring Global Investments Holdings LLC Has $126.59 Million Position in Silgan Holdings Inc. (NYSE:SLGN)

Allspring Global Investments Holdings LLC cut its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 5.0% during the fourth quarter, Holdings Channel reports. 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’s holdings in Silgan were worth $126,586,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its position 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 worth $74,000 after acquiring an additional 963 shares during the period. GAMMA Investing LLC raised its stake in shares of Silgan by 51.8% in the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 606 shares in the last quarter. KBC Group NV lifted its position in Silgan by 27.7% in the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 494 shares during the period. Point72 Asset Management L.P. acquired a new stake in Silgan during the third quarter worth $154,000. Finally, Stifel Financial Corp bought a new stake in Silgan in the 3rd quarter valued at $203,000. 70.25% of the stock is currently owned by institutional investors.

Silgan Price Performance

Silgan stock opened at $52.98 on Wednesday. The business’s fifty day moving average is $53.20 and its two-hundred day moving average is $52.35. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. The firm has a market cap of $5.66 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.24 and a beta of 0.71. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (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%. Equities research analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SLGN. Wells Fargo & Company raised their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Robert W. Baird lifted their price objective on Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Truist Financial restated a “buy” rating and set a $70.00 target price (up previously from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Bank of America upped their price target on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Loop Capital lifted their price objective on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.22.

Silgan Company 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.