Parametric Portfolio Associates LLC grew its holdings in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 5.5% during the third quarter, Holdings Channel reports. The firm owned 631,923 shares of the industrial products company’s stock after purchasing an additional 32,836 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Silgan were worth $18,980,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. California State Teachers Retirement System raised its stake in shares of Silgan by 0.3% in the third quarter. California State Teachers Retirement System now owns 124,060 shares of the industrial products company’s stock valued at $3,726,000 after acquiring an additional 418 shares in the last quarter. Voya Investment Management LLC increased its holdings in Silgan by 21.5% during the 3rd quarter. Voya Investment Management LLC now owns 16,749 shares of the industrial products company’s stock worth $503,000 after purchasing an additional 2,962 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Silgan in the 3rd quarter valued at about $2,695,000. Dean Capital Investments Management LLC raised its position in Silgan by 47.6% in the 3rd quarter. Dean Capital Investments Management LLC now owns 10,908 shares of the industrial products company’s stock valued at $328,000 after purchasing an additional 3,520 shares in the last quarter. Finally, BBVA USA Bancshares Inc. boosted its stake in shares of Silgan by 16.1% in the 3rd quarter. BBVA USA Bancshares Inc. now owns 11,817 shares of the industrial products company’s stock valued at $355,000 after buying an additional 1,640 shares during the period. Institutional investors own 66.23% of the company’s stock.
A number of brokerages have recently commented on SLGN. Zacks Investment Research downgraded Silgan from a “hold” rating to a “sell” rating and set a $32.00 price objective for the company. in a research report on Tuesday, October 15th. BidaskClub cut shares of Silgan from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, ValuEngine cut shares of Silgan from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Silgan currently has an average rating of “Hold” and a consensus target price of $33.67.
Silgan (NASDAQ:SLGN) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Silgan had a return on equity of 26.05% and a net margin of 4.37%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. Silgan’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Silgan Holdings Inc. will post 2.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.44 annualized dividend and a dividend yield of 1.44%. Silgan’s dividend payout ratio is currently 21.15%.
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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