Summit Global Investments bought a new position in shares of Silgan Holdings Inc. (NASDAQ:SLGN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,000 shares of the industrial products company’s stock, valued at approximately $508,000.
Several other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Silgan Holdings by 102.2% during the second quarter. JPMorgan Chase & Co. now owns 7,792,959 shares of the industrial products company’s stock valued at $247,661,000 after buying an additional 3,939,145 shares during the period. Vanguard Group Inc. lifted its stake in shares of Silgan Holdings by 6.8% during the first quarter. Vanguard Group Inc. now owns 3,918,778 shares of the industrial products company’s stock valued at $232,618,000 after buying an additional 247,984 shares during the period. BlackRock Inc. lifted its stake in shares of Silgan Holdings by 12,224.8% during the first quarter. BlackRock Inc. now owns 3,200,257 shares of the industrial products company’s stock valued at $189,966,000 after buying an additional 3,174,291 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Silgan Holdings by 106.8% during the second quarter. Wells Fargo & Company MN now owns 1,608,013 shares of the industrial products company’s stock valued at $51,104,000 after buying an additional 830,485 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Silgan Holdings by 2.2% during the first quarter. Wellington Management Group LLP now owns 1,533,986 shares of the industrial products company’s stock valued at $91,058,000 after buying an additional 32,672 shares during the period. Institutional investors and hedge funds own 67.00% of the company’s stock.
Silgan Holdings Inc. (SLGN) traded up 0.14% on Wednesday, hitting $29.12. 57,427 shares of the stock traded hands. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 23.13 and a beta of 0.54. Silgan Holdings Inc. has a 12-month low of $23.58 and a 12-month high of $32.50. The stock has a 50-day moving average of $29.98 and a 200-day moving average of $30.60.
Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.35 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.35. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. Analysts forecast that Silgan Holdings Inc. will post $1.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.24%. The ex-dividend date was Wednesday, August 30th. Silgan Holdings’s dividend payout ratio (DPR) is presently 29.03%.
SLGN has been the topic of a number of recent analyst reports. KeyCorp reissued a “hold” rating on shares of Silgan Holdings in a research note on Friday, August 25th. Zacks Investment Research downgraded shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) lowered shares of Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price target for the company. in a report on Thursday, July 13th. BidaskClub lowered shares of Silgan Holdings from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $30.00 price target (down from $60.00) on shares of Silgan Holdings in a report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $32.33.
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In related news, VP Robert B. Lewis sold 7,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $29.70, for a total transaction of $207,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas James Snyder sold 10,506 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $30.78, for a total value of $323,374.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,698 shares of company stock worth $597,429. Insiders own 33.10% of the company’s stock.
Silgan Holdings Profile
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
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