GW&K Investment Management LLC cut its stake in Silgan Holdings Inc. (NASDAQ:SLGN) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 471,380 shares of the company’s stock after selling 17,331 shares during the period. GW&K Investment Management LLC’s holdings in Silgan Holdings were worth $24,257,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of SLGN. LS Investment Advisors LLC raised 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 period. M&T Bank Corp purchased a new stake in Silgan Holdings during the first quarter valued at $289,000. NN Investment Partners Holdings N.V. purchased a new stake in Silgan Holdings during the first quarter valued at $298,000. Massmutual Trust Co. FSB ADV raised its stake in Silgan Holdings by 16.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 7,870 shares of the company’s stock valued at $418,000 after buying an additional 1,115 shares during the period. Finally, UBS Group AG raised its stake in Silgan Holdings by 58.2% in the first quarter. UBS Group AG now owns 12,935 shares of the company’s stock valued at $688,000 after buying an additional 4,758 shares during the period. Institutional investors own 68.85% of the company’s stock.
Silgan Holdings Inc. (NASDAQ:SLGN) traded up 1.11% on Tuesday, reaching $50.09. 125,880 shares of the company were exchanged. The company’s 50-day moving average price is $48.80 and its 200-day moving average price is $50.85. Silgan Holdings Inc. has a 12-month low of $47.00 and a 12-month high of $56.06. The stock has a market capitalization of $3.03 billion, a P/E ratio of 19.47 and a beta of 0.54.
Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. Silgan Holdings had a net margin of 4.23% and a return on equity of 25.69%. The company had revenue of $874.60 million for the quarter, compared to analyst estimates of $895.15 million. During the same period in the prior year, the firm posted $0.71 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Equities research analysts anticipate 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. Stockholders of record on Thursday, September 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Tuesday, August 30th. Silgan Holdings’s dividend payout ratio is currently 26.25%.
SLGN has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Silgan Holdings from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Tuesday, June 28th. Wells Fargo & Co. lowered shares of Silgan Holdings from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. BMO Capital Markets lowered shares of Silgan Holdings from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $58.00 to $47.00 in a report on Wednesday, June 8th. Citigroup Inc. dropped their price objective on shares of Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, August 2nd. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and set a $53.00 price objective on shares of Silgan Holdings in a report on Wednesday, June 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.33.
In related news, VP Anthony P. Andreacchi sold 1,221 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $48.48, for a total transaction of $59,194.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP B Frederik Prinzen sold 1,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $48.05, for a total transaction of $48,050.00. The disclosure for this sale can be found here. 32.94% of the stock is currently owned by insiders.
About Silgan Holdings
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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