Natixis acquired a new stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 146,974 shares of the industrial products company’s stock, valued at approximately $4,497,000.
Other hedge funds also recently modified their holdings of the company. Bogle Investment Management L P DE purchased a new stake in shares of Silgan in the second quarter worth approximately $898,000. Commonwealth Bank of Australia raised its holdings in shares of Silgan by 47.9% in the second quarter. Commonwealth Bank of Australia now owns 17,600 shares of the industrial products company’s stock worth $538,000 after buying an additional 5,700 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of Silgan in the second quarter worth approximately $26,000. Northern Trust Corp raised its holdings in shares of Silgan by 12.2% in the second quarter. Northern Trust Corp now owns 763,219 shares of the industrial products company’s stock worth $23,353,000 after buying an additional 83,032 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Silgan by 157.0% in the second quarter. Public Employees Retirement System of Ohio now owns 110,391 shares of the industrial products company’s stock worth $3,378,000 after buying an additional 67,445 shares during the period. Institutional investors and hedge funds own 65.78% of the company’s stock.
NASDAQ:SLGN traded down $0.10 during midday trading on Friday, hitting $30.09. The stock had a trading volume of 57,351 shares, compared to its average volume of 292,848. Silgan Holdings Inc. has a one year low of $22.24 and a one year high of $31.69. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.78 and a beta of 0.79. The stock has a 50-day moving average of $30.05 and a 200 day moving average of $29.84. The company has a quick ratio of 0.49, a current ratio of 0.98 and a debt-to-equity ratio of 1.96.
Silgan (NASDAQ:SLGN) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. Silgan had a return on equity of 26.45% and a net margin of 4.46%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Silgan’s revenue was up 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Silgan Holdings Inc. will post 2.2 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.44 annualized dividend and a yield of 1.46%. Silgan’s dividend payout ratio (DPR) is currently 21.15%.
Several equities research analysts have recently weighed in on SLGN shares. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $31.00 to $33.00 in a report on Wednesday, July 17th. Citigroup increased their price objective on Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. ValuEngine cut Silgan from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Finally, BidaskClub cut Silgan from a “hold” rating to a “sell” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $30.63.
In other Silgan news, Director John W. Alden sold 2,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $29.71, for a total transaction of $59,420.00. Following the sale, the director now owns 67,331 shares of the company’s stock, valued at approximately $2,000,404.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas James Snyder sold 10,444 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.02, for a total value of $323,972.88. The disclosure for this sale can be found here. 30.32% of the stock is owned by corporate insiders.
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 pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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