Old Mutual Global Investors UK Ltd. increased its stake in Silgan Holdings Inc. (NASDAQ:SLGN) by 60.2% during the second quarter, Holdings Channel reports. The fund owned 58,157 shares of the company’s stock after buying an additional 21,843 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in Silgan Holdings were worth $2,992,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JLB & Associates Inc. boosted its position in Silgan Holdings by 0.7% in the second quarter. JLB & Associates Inc. now owns 104,995 shares of the company’s stock valued at $5,403,000 after buying an additional 775 shares during the last quarter. LS Investment Advisors LLC boosted its position 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 last quarter. Massmutual Trust Co. FSB ADV boosted its position 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 last quarter. Aristotle Capital Boston LLC boosted its position in Silgan Holdings by 2.4% in the first quarter. Aristotle Capital Boston LLC now owns 60,444 shares of the company’s stock valued at $3,214,000 after buying an additional 1,418 shares during the last quarter. Finally, Zebra Capital Management LLC boosted its position in Silgan Holdings by 22.1% in the first quarter. Zebra Capital Management LLC now owns 13,578 shares of the company’s stock valued at $722,000 after buying an additional 2,461 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.
Silgan Holdings Inc. (NASDAQ:SLGN) traded down 0.72% during mid-day trading on Friday, reaching $49.87. The company’s stock had a trading volume of 165,212 shares. Silgan Holdings Inc. has a 12 month low of $47.00 and a 12 month high of $56.06. The firm has a market capitalization of $3.02 billion, a PE ratio of 19.38 and a beta of 0.54. The stock’s 50-day moving average is $48.80 and its 200-day moving average is $50.87.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. The company had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $895.15 million. Silgan Holdings had a return on equity of 25.69% and a net margin of 4.23%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, equities analysts anticipate that Silgan Holdings Inc. will post $2.80 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.17 per share. 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 presently 26.25%.
Several research analysts have recently issued reports on SLGN shares. Wells Fargo & Co. cut Silgan Holdings from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 28th. Zacks Investment Research raised Silgan Holdings from a “sell” rating to a “hold” rating in a research report on Monday, August 22nd. Citigroup Inc. lowered their price objective on Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, August 2nd. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $53.00 price objective on shares of Silgan Holdings in a research report on Wednesday, June 1st. Finally, BMO Capital Markets cut Silgan Holdings from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $58.00 to $47.00 in a research report on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Silgan Holdings presently has an average rating of “Hold” and an average target price of $52.33.
In other Silgan Holdings news, VP Anthony P. Andreacchi sold 1,221 shares of the business’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $48.48, for a total transaction of $59,194.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP B Frederik Prinzen sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $48.05, for a total value of $48,050.00. The disclosure for this sale can be found here. Company insiders own 32.94% of the company’s stock.
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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