California Public Employees Retirement System grew its position in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 75.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 36,600 shares of the industrial products company’s stock after acquiring an additional 15,700 shares during the period. California Public Employees Retirement System’s holdings in Silgan Holdings were worth $1,163,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of Silgan Holdings by 79.6% during the 2nd quarter. Northern Trust Corp now owns 648,964 shares of the industrial products company’s stock worth $20,623,000 after acquiring an additional 287,658 shares during the period. Wells Fargo & Company MN grew its stake in shares of Silgan Holdings by 106.8% in the 2nd quarter. Wells Fargo & Company MN now owns 1,608,013 shares of the industrial products company’s stock worth $51,104,000 after buying an additional 830,485 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Silgan Holdings by 102.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,792,959 shares of the industrial products company’s stock worth $247,661,000 after buying an additional 3,939,145 shares during the last quarter. Swiss National Bank grew its stake in shares of Silgan Holdings by 100.0% in the 2nd quarter. Swiss National Bank now owns 126,800 shares of the industrial products company’s stock worth $4,030,000 after buying an additional 63,400 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Silgan Holdings by 107.4% in the 2nd quarter. BlackRock Inc. now owns 6,637,734 shares of the industrial products company’s stock worth $210,947,000 after buying an additional 3,437,477 shares during the last quarter. Hedge funds and other institutional investors own 65.87% of the company’s stock.
Shares of Silgan Holdings Inc. (NASDAQ SLGN) opened at $28.73 on Friday. The company has a debt-to-equity ratio of 4.50, a quick ratio of 0.25 and a current ratio of 0.44. Silgan Holdings Inc. has a 52 week low of $24.36 and a 52 week high of $32.50. The company has a market capitalization of $3,204.67, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 1.77 and a beta of 0.52.
Silgan Holdings (NASDAQ:SLGN) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.03). Silgan Holdings had a net margin of 3.77% and a return on equity of 32.87%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business posted $0.61 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. equities research analysts anticipate that Silgan Holdings Inc. will post 1.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.36 annualized dividend and a yield of 1.25%. Silgan Holdings’s dividend payout ratio is 27.38%.
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In other Silgan Holdings news, insider Thomas James Snyder sold 10,506 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $30.78, for a total transaction of $323,374.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert B. Lewis sold 7,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $29.70, for a total value of $207,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,698 shares of company stock worth $597,429. Company insiders own 33.10% of the company’s stock.
SLGN has been the topic of several recent research reports. KeyCorp restated a “hold” rating on shares of Silgan Holdings in a research note on Friday, August 25th. Goldman Sachs Group, Inc. (The) downgraded 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 downgraded Silgan Holdings from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Royal Bank Of Canada initiated coverage on Silgan Holdings in a research note on Monday, October 9th. They issued a “sector perform” rating and a $30.00 price target on the stock. Finally, Zacks Investment Research downgraded Silgan Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Silgan Holdings has a consensus rating of “Hold” and an average target price of $31.57.
Silgan Holdings 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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