Kennedy Capital Management Inc. raised its holdings in Silgan Holdings Inc. (NASDAQ:SLGN) by 103.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,843 shares of the industrial products company’s stock after purchasing an additional 110,708 shares during the quarter. Kennedy Capital Management Inc. owned 0.20% of Silgan Holdings worth $6,923,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Shoker Investment Counsel Inc. raised its position in Silgan Holdings by 100.6% in the second quarter. Shoker Investment Counsel Inc. now owns 19,660 shares of the industrial products company’s stock valued at $624,000 after purchasing an additional 9,858 shares during the period. LSV Asset Management purchased a new stake in Silgan Holdings in the second quarter valued at $3,661,000. Los Angeles Capital Management & Equity Research Inc. raised its position in Silgan Holdings by 168.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 200,510 shares of the industrial products company’s stock valued at $6,372,000 after purchasing an additional 125,845 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in Silgan Holdings by 8.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,994 shares of the industrial products company’s stock valued at $360,000 after purchasing an additional 543 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Silgan Holdings by 100.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,945 shares of the industrial products company’s stock valued at $348,000 after purchasing an additional 5,477 shares during the period. Institutional investors own 67.00% of the company’s stock.
A number of equities research analysts have commented on the company. Goldman Sachs Group, Inc. (The) downgraded Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 target price on the stock. in a research report on Thursday, July 13th. BMO Capital Markets restated a “buy” rating and issued a $34.00 target price on shares of Silgan Holdings in a research report on Sunday, July 9th. Robert W. Baird downgraded Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Wednesday, July 19th. Zacks Investment Research downgraded Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, BidaskClub downgraded Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Silgan Holdings currently has a consensus rating of “Hold” and a consensus price target of $31.36.
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In related news, VP Robert B. Lewis sold 7,000 shares of Silgan Holdings stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $29.70, for a total value of $207,900.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Anthony P. Andreacchi sold 2,192 shares of Silgan Holdings stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $30.18, for a total value of $66,154.56. The disclosure for this sale can be found here. Insiders sold 19,698 shares of company stock worth $597,429 in the last quarter. 33.10% of the stock is owned by insiders.
Shares of Silgan Holdings Inc. (SLGN) opened at 29.94 on Tuesday. Silgan Holdings Inc. has a 12-month low of $23.58 and a 12-month high of $32.50. The company has a 50 day moving average price of $30.28 and a 200 day moving average price of $30.63. The stock has a market cap of $3.30 billion, a P/E ratio of 23.78 and a beta of 0.54.
Silgan Holdings (NASDAQ:SLGN) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.35. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts anticipate that Silgan Holdings Inc. will post $1.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Wednesday, August 30th. Silgan Holdings’s payout ratio is currently 29.03%.
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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