Rhumbline Advisers decreased its position in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 142,116 shares of the industrial products company’s stock after selling 4,947 shares during the period. Rhumbline Advisers’ holdings in Silgan were worth $3,813,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Prudential Financial Inc. lifted its position in Silgan by 16.1% during the first quarter. Prudential Financial Inc. now owns 61,992 shares of the industrial products company’s stock valued at $1,727,000 after acquiring an additional 8,592 shares during the last quarter. Principal Financial Group Inc. lifted its position in Silgan by 4.1% during the first quarter. Principal Financial Group Inc. now owns 328,477 shares of the industrial products company’s stock valued at $9,148,000 after acquiring an additional 12,971 shares during the last quarter. Wells Fargo & Company MN lifted its position in Silgan by 5.0% during the first quarter. Wells Fargo & Company MN now owns 1,876,811 shares of the industrial products company’s stock valued at $52,271,000 after acquiring an additional 88,757 shares during the last quarter. Royal Bank of Canada lifted its position in Silgan by 8.2% during the first quarter. Royal Bank of Canada now owns 521,276 shares of the industrial products company’s stock valued at $14,517,000 after acquiring an additional 39,696 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Silgan by 6.5% during the 1st quarter. American Century Companies Inc. now owns 1,883,373 shares of the industrial products company’s stock valued at $52,452,000 after purchasing an additional 114,787 shares in the last quarter. 67.45% of the stock is owned by institutional investors.
A number of research analysts have issued reports on SLGN shares. Jefferies Financial Group started coverage on shares of Silgan in a research note on Friday, May 18th. They set a “buy” rating and a $33.00 price target on the stock. Zacks Investment Research upgraded shares of Silgan from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Thursday, May 17th. BidaskClub lowered shares of Silgan from a “hold” rating to a “sell” rating in a research note on Saturday, August 11th. Finally, UBS Group started coverage on shares of Silgan in a research note on Wednesday, June 20th. They set a “sell” rating and a $25.00 price target on the stock. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Silgan presently has a consensus rating of “Hold” and a consensus target price of $31.00.
In other Silgan news, Director Leigh J. Abramson acquired 7,500 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were purchased at an average price of $27.36 per share, for a total transaction of $205,200.00. Following the completion of the purchase, the director now directly owns 7,500 shares of the company’s stock, valued at $205,200. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert B. Lewis sold 18,000 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $27.42, for a total transaction of $493,560.00. The disclosure for this sale can be found here. Insiders sold 25,843 shares of company stock worth $707,037 in the last quarter. Company insiders own 30.32% of the company’s stock.
Shares of Silgan stock opened at $27.18 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.57 and a debt-to-equity ratio of 2.59. Silgan Holdings Inc. has a 12-month low of $26.18 and a 12-month high of $31.05. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 1.31 and a beta of 0.48.
Silgan (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.52. Silgan had a net margin of 7.37% and a return on equity of 28.00%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business posted $0.35 EPS. Silgan’s revenue for the quarter was up 3.7% compared to the same quarter last year. research analysts forecast that Silgan Holdings Inc. will post 2.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.47%. Silgan’s payout ratio is currently 24.24%.
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.
Featured Story: Diversification For Individual Investors
Want to see what other hedge funds are holding SLGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silgan Holdings Inc. (NASDAQ:SLGN).
Receive News & Ratings for Silgan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silgan and related companies with MarketBeat.com's FREE daily email newsletter.