BNP Paribas Arbitrage SA Sells 6,601 Shares of Silgan Holdings Inc. (SLGN)

BNP Paribas Arbitrage SA reduced its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 18.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,341 shares of the industrial products company’s stock after selling 6,601 shares during the period. BNP Paribas Arbitrage SA’s holdings in Silgan were worth $834,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. California Public Employees Retirement System lifted its holdings in Silgan by 1.5% in the first quarter. California Public Employees Retirement System now owns 20,900 shares of the industrial products company’s stock valued at $1,241,000 after acquiring an additional 300 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in Silgan 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 acquiring an additional 543 shares during the last quarter. Pacad Investment Ltd. lifted its holdings in Silgan by 15.6% in the second quarter. Pacad Investment Ltd. now owns 5,200 shares of the industrial products company’s stock valued at $165,000 after acquiring an additional 700 shares during the last quarter. Profund Advisors LLC lifted its holdings in Silgan by 20.5% in the second quarter. Profund Advisors LLC now owns 7,888 shares of the industrial products company’s stock valued at $251,000 after acquiring an additional 1,340 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in Silgan by 89.3% in the second quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock valued at $124,000 after acquiring an additional 1,847 shares during the last quarter. Institutional investors and hedge funds own 67.68% of the company’s stock.

Silgan Holdings Inc. (SLGN) opened at $28.72 on Monday. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.73 and a current ratio of 1.26. Silgan Holdings Inc. has a 52 week low of $24.45 and a 52 week high of $32.50. The company has a market capitalization of $3,169.91, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.75 and a beta of 0.52.

Silgan (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). Silgan had a return on equity of 32.87% and a net margin of 3.77%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company earned $0.61 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. sell-side analysts predict that Silgan Holdings Inc. will post 1.64 EPS for the current fiscal year.

The company also recently declared 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. This represents a $0.36 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, November 30th. Silgan’s dividend payout ratio (DPR) is 27.38%.

In other Silgan news, Director William C. Jennings sold 25,642 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $28.38, for a total transaction of $727,719.96. Following the transaction, the director now directly owns 42,180 shares in the company, valued at $1,197,068.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 33.10% of the stock is owned by corporate insiders.

A number of research analysts recently commented on SLGN shares. KeyCorp reiterated a “hold” rating on shares of Silgan in a report on Sunday, October 29th. Robert W. Baird reiterated a “hold” rating and issued a $32.00 price objective on shares of Silgan in a report on Friday, October 27th. BMO Capital Markets reiterated a “buy” rating and issued a $34.00 price objective on shares of Silgan in a report on Monday, September 18th. Royal Bank Of Canada started coverage on Silgan in a report on Monday, October 9th. They issued a “sector perform” rating and a $30.00 price objective on the stock. Finally, Zacks Investment Research cut Silgan from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $31.57.

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Silgan 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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Institutional Ownership by Quarter for Silgan (NASDAQ:SLGN)

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