Mason Street Advisors LLC purchased a new stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,476 shares of the company’s stock, valued at approximately $951,000.
A number of other hedge funds have also recently bought and sold shares of SLGN. LS Investment Advisors LLC increased its stake in Silgan Holdings by 78.4% in the second quarter. LS Investment Advisors LLC now owns 2,467 shares of the company’s stock valued at $127,000 after buying an additional 1,084 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Silgan Holdings during the second quarter valued at $129,000. Sei Investments Co. increased its stake in Silgan Holdings by 127.2% in the second quarter. Sei Investments Co. now owns 3,729 shares of the company’s stock valued at $192,000 after buying an additional 2,088 shares during the last quarter. US Bancorp DE increased its stake in Silgan Holdings by 7.2% in the second quarter. US Bancorp DE now owns 4,538 shares of the company’s stock valued at $233,000 after buying an additional 304 shares during the last quarter. Finally, M&T Bank Corp purchased a new stake in Silgan Holdings during the first quarter valued at $289,000. Institutional investors and hedge funds own 68.85% of the company’s stock.
Shares of Silgan Holdings Inc. (NASDAQ:SLGN) opened at 50.09 on Wednesday. Silgan Holdings Inc. has a 1-year low of $47.00 and a 1-year high of $56.06. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 19.47 and a beta of 0.54. The firm’s 50-day moving average price is $48.82 and its 200 day moving average price is $50.84.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $874.60 million for the quarter, compared to analyst estimates of $895.15 million. Silgan Holdings had a return on equity of 25.69% and a net margin of 4.23%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 earnings per share. Equities research analysts expect that Silgan Holdings Inc. will post $2.80 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, August 30th. Silgan Holdings’s payout ratio is 26.25%.
Several analysts have weighed in on the company. Citigroup Inc. dropped their price target on Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 2nd. Zacks Investment Research raised Silgan Holdings from a “sell” rating to a “hold” rating in a report on Monday, July 11th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $53.00 price objective on shares of Silgan Holdings in a report on Wednesday, June 1st. Wells Fargo & Co. cut Silgan Holdings from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Finally, JPMorgan Chase & Co. started coverage on Silgan Holdings in a report on Tuesday, September 13th. They issued a “neutral” rating and a $51.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Silgan Holdings currently has a consensus rating of “Hold” and an average price target of $52.33.
In related news, VP B Frederik Prinzen sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $48.05, for a total transaction of $48,050.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Anthony P. Andreacchi sold 1,221 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $48.48, for a total value of $59,194.08. The disclosure for this sale can be found here. Company insiders own 32.94% of the company’s stock.
Silgan Holdings Company Profile
Silgan Holdings Inc (Silgan) is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products. The Company operates through three segments: metal container, closures and plastic container. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products.
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