New York State Common Retirement Fund decreased its position in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 5.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 176,013 shares of the company’s stock after selling 10,300 shares during the period. New York State Common Retirement Fund’s holdings in Silgan Holdings were worth $8,904,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in SLGN. US Bancorp DE boosted its stake in Silgan Holdings by 2.8% in the third quarter. US Bancorp DE now owns 4,665 shares of the company’s stock worth $236,000 after buying an additional 127 shares during the period. Arizona State Retirement System boosted its stake in Silgan Holdings by 1.2% in the third quarter. Arizona State Retirement System now owns 17,206 shares of the company’s stock worth $870,000 after buying an additional 200 shares during the period. Capstone Asset Management Co. boosted its stake in Silgan Holdings by 5.0% in the third quarter. Capstone Asset Management Co. now owns 4,839 shares of the company’s stock worth $245,000 after buying an additional 230 shares during the period. Alliancebernstein L.P. boosted its stake in Silgan Holdings by 0.9% in the second quarter. Alliancebernstein L.P. now owns 27,464 shares of the company’s stock worth $1,413,000 after buying an additional 240 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in Silgan Holdings by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 14,150 shares of the company’s stock worth $716,000 after buying an additional 279 shares during the period. Institutional investors and hedge funds own 78.20% of the company’s stock.
Shares of Silgan Holdings Inc. (NASDAQ:SLGN) traded down 0.17% on Wednesday, hitting $52.28. The stock had a trading volume of 75,073 shares. Silgan Holdings Inc. has a one year low of $47.16 and a one year high of $55.75. The stock has a market cap of $3.15 billion, a PE ratio of 20.37 and a beta of 0.59. The company’s 50 day moving average is $50.70 and its 200 day moving average is $50.16.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, October 26th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.25 by $0.02. The business earned $1.14 billion during the quarter, compared to analyst estimates of $1.18 billion. Silgan Holdings had a net margin of 4.30% and a return on equity of 24.33%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 earnings per share. Equities research analysts predict that Silgan Holdings Inc. will post $2.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, November 29th. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. Silgan Holdings’s dividend payout ratio is presently 26.36%.
A number of research firms have recently commented on SLGN. Zacks Investment Research upgraded Silgan Holdings from a “sell” rating to a “hold” rating in a research report on Monday, September 19th. J P Morgan Chase & Co began coverage on Silgan Holdings in a research report on Tuesday, September 13th. They set a “neutral” rating and a $51.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $51.57.
In other news, VP Adam J. Greenlee sold 4,417 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $50.03, for a total value of $220,982.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director D Greg Horrigan sold 434,374 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $50.75, for a total transaction of $22,044,480.50. The disclosure for this sale can be found here. 32.94% of the stock is currently owned by insiders.
Silgan Holdings Company Profile
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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