Caxton Associates LP acquired a new stake in Silgan Holdings Inc. (NASDAQ:SLGN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,400 shares of the industrial products company’s stock, valued at approximately $571,000.
A number of other institutional investors and hedge funds have also modified their holdings of SLGN. Bank of Montreal Can boosted its stake in shares of Silgan by 89.3% in the second quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock worth $124,000 after acquiring an additional 1,847 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Silgan in the second quarter worth approximately $140,000. Pacad Investment Ltd. boosted its stake in shares of Silgan by 15.6% in the second quarter. Pacad Investment Ltd. now owns 5,200 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 700 shares during the last quarter. US Bancorp DE boosted its stake in shares of Silgan by 100.0% in the second quarter. US Bancorp DE now owns 6,762 shares of the industrial products company’s stock worth $215,000 after acquiring an additional 3,381 shares during the last quarter. Finally, Breton Hill Capital Ltd. acquired a new stake in shares of Silgan in the third quarter worth approximately $218,000. 67.69% of the stock is currently owned by institutional investors.
In related news, Director William C. Jennings sold 25,642 shares of Silgan stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $28.38, for a total transaction of $727,719.96. Following the transaction, the director now owns 42,180 shares in the company, valued at $1,197,068.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 33.10% of the company’s stock.
Silgan (NASDAQ:SLGN) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.03). Silgan had a return on equity of 32.87% and a net margin of 3.77%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business posted $0.61 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. analysts forecast that Silgan Holdings Inc. will post 1.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.36 dividend on an annualized basis and a yield of 1.25%. Silgan’s payout ratio is 27.38%.
A number of analysts have recently issued reports on SLGN shares. KeyCorp reaffirmed a “hold” rating on shares of Silgan in a research note on Sunday, October 29th. Robert W. Baird reaffirmed a “hold” rating and issued a $32.00 price target on shares of Silgan in a research note on Friday, October 27th. BMO Capital Markets reiterated a “buy” rating and set a $34.00 price objective on shares of Silgan in a research report on Monday, September 18th. Royal Bank of Canada started coverage on Silgan in a research report on Monday, October 9th. They set a “sector perform” rating and a $30.00 price objective on the stock. Finally, Zacks Investment Research downgraded Silgan from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Silgan currently has a consensus rating of “Hold” and a consensus price target of $30.75.
Silgan Company 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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