NGAM Advisors L.P. increased its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 92.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,077 shares of the industrial products company’s stock after buying an additional 48,930 shares during the period. NGAM Advisors L.P.’s holdings in Silgan Holdings were worth $3,244,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can raised its position in shares of Silgan Holdings by 89.3% in the second quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock valued at $124,000 after buying an additional 1,847 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Silgan Holdings during the second quarter valued at approximately $127,000. Envestnet Asset Management Inc. raised its position in shares of Silgan Holdings by 9.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock valued at $139,000 after buying an additional 207 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Silgan Holdings by 1.0% in the first quarter. Pacer Advisors Inc. now owns 2,732 shares of the industrial products company’s stock valued at $162,000 after buying an additional 27 shares in the last quarter. Finally, LS Investment Advisors LLC raised its position in shares of Silgan Holdings by 136.4% in the second quarter. LS Investment Advisors LLC now owns 5,788 shares of the industrial products company’s stock valued at $184,000 after buying an additional 3,340 shares in the last quarter. Institutional investors own 36.00% of the company’s stock.
Silgan Holdings Inc. (SLGN) opened at 30.54 on Thursday. Silgan Holdings Inc. has a 12 month low of $27.98 and a 12 month high of $64.98. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 24.26 and a beta of 0.54. The stock’s 50 day moving average is $31.43 and its 200-day moving average is $49.69.
Silgan Holdings (NASDAQ:SLGN) last issued 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 firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 EPS. On average, equities research analysts expect that Silgan Holdings Inc. will post $1.66 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.36 dividend on an annualized basis and a yield of 1.18%. Silgan Holdings’s payout ratio is currently 29.03%.
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Several brokerages have commented on SLGN. Robert W. Baird lowered shares of Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Wednesday, July 19th. 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 on the stock. in a research note on Thursday, July 13th. BidaskClub lowered shares of Silgan Holdings from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Zacks Investment Research lowered shares of Silgan Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Finally, Bank of America Corporation lowered shares of Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Silgan Holdings currently has a consensus rating of “Hold” and an average price target of $31.36.
In related news, VP Adam J. Greenlee sold 5,643 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $61.56, for a total transaction of $347,383.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 33.10% of the stock is owned by corporate insiders.
Silgan Holdings 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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