Keybank National Association OH acquired a new position in shares of Silgan Holdings Inc. (NASDAQ:SLGN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,561 shares of the industrial products company’s stock, valued at approximately $476,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its holdings in shares of Silgan by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 31,113 shares of the industrial products company’s stock valued at $952,000 after purchasing an additional 442 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of Silgan by 5.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,620 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 542 shares during the period. Mason Street Advisors LLC increased its holdings in shares of Silgan by 1.3% in the 1st quarter. Mason Street Advisors LLC now owns 41,106 shares of the industrial products company’s stock valued at $1,218,000 after purchasing an additional 547 shares during the period. Retirement Systems of Alabama increased its holdings in Silgan by 0.6% in the second quarter. Retirement Systems of Alabama now owns 101,193 shares of the industrial products company’s stock worth $3,097,000 after buying an additional 565 shares during the last quarter. Finally, Commerce Bank increased its holdings in Silgan by 2.9% in the first quarter. Commerce Bank now owns 24,100 shares of the industrial products company’s stock worth $714,000 after buying an additional 690 shares during the last quarter. Hedge funds and other institutional investors own 62.86% of the company’s stock.
In other Silgan news, insider Thomas James Snyder sold 10,444 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.02, for a total transaction of $323,972.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 30.32% of the stock is owned by corporate insiders.
Silgan (NASDAQ:SLGN) last announced its earnings results on Wednesday, July 24th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Silgan had a return on equity of 26.45% and a net margin of 4.46%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 earnings per share. Sell-side analysts anticipate that Silgan Holdings Inc. will post 2.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.44 dividend on an annualized basis and a yield of 1.47%. Silgan’s payout ratio is currently 21.15%.
A number of equities analysts recently commented on SLGN shares. Citigroup increased their price objective on Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. BidaskClub upgraded Silgan from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. KeyCorp restated a “hold” rating on shares of Silgan in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $31.00 to $33.00 in a report on Wednesday, July 17th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $30.63.
Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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