William T. Donovan Purchases 5,000 Shares of Silgan Holdings Inc. (SLGN) Stock

Silgan Holdings Inc. (NASDAQ:SLGN) Director William T. Donovan bought 5,000 shares of the company’s stock in a transaction on Monday, October 29th. The shares were acquired at an average price of $23.75 per share, with a total value of $118,750.00. Following the transaction, the director now directly owns 8,235 shares in the company, valued at approximately $195,581.25. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

SLGN opened at $24.03 on Thursday. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.47 and a quick ratio of 0.28. Silgan Holdings Inc. has a 12 month low of $23.14 and a 12 month high of $31.05. The firm has a market capitalization of $2.62 billion, a P/E ratio of 14.67, a PEG ratio of 1.11 and a beta of 0.48.

Silgan (NASDAQ:SLGN) last released its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $0.76 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.76. Silgan had a net margin of 7.59% and a return on equity of 26.91%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that Silgan Holdings Inc. will post 2.05 earnings per share for the current fiscal year.

Several analysts have commented on the stock. KeyCorp reiterated a “hold” rating on shares of Silgan in a research report on Wednesday, October 24th. BidaskClub cut shares of Silgan from a “hold” rating to a “sell” rating in a research report on Saturday, October 6th. ValuEngine upgraded shares of Silgan from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research cut shares of Silgan from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Finally, BMO Capital Markets dropped their target price on shares of Silgan from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $29.33.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Silgan by 2.6% in the 2nd quarter. FMR LLC now owns 13,207,468 shares of the industrial products company’s stock valued at $354,357,000 after buying an additional 330,350 shares in the last quarter. BlackRock Inc. increased its holdings in Silgan by 2.5% during the 2nd quarter. BlackRock Inc. now owns 6,538,231 shares of the industrial products company’s stock worth $175,420,000 after purchasing an additional 160,928 shares in the last quarter. American Century Companies Inc. increased its holdings in Silgan by 12.4% during the 2nd quarter. American Century Companies Inc. now owns 2,116,535 shares of the industrial products company’s stock worth $56,787,000 after purchasing an additional 233,162 shares in the last quarter. Deprince Race & Zollo Inc. increased its holdings in Silgan by 29.6% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,102,129 shares of the industrial products company’s stock worth $56,400,000 after purchasing an additional 480,224 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Silgan by 11.3% during the 2nd quarter. Wells Fargo & Company MN now owns 2,088,898 shares of the industrial products company’s stock worth $56,044,000 after purchasing an additional 212,087 shares in the last quarter. Institutional investors and hedge funds own 67.02% of the company’s stock.

Silgan Company Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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