Profund Advisors LLC cut its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 17.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,548 shares of the industrial products company’s stock after selling 1,405 shares during the period. Profund Advisors LLC’s holdings in Silgan Holdings were worth $389,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of SLGN. Elkfork Partners LLC purchased a new position in Silgan Holdings during the fourth quarter valued at about $115,000. Pacer Advisors Inc. raised its position in Silgan Holdings by 9.1% in the third quarter. Pacer Advisors Inc. now owns 2,740 shares of the industrial products company’s stock valued at $139,000 after buying an additional 228 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Silgan Holdings during the fourth quarter valued at about $256,000. Pacad Investment Ltd. purchased a new position in Silgan Holdings during the fourth quarter valued at about $276,000. Finally, Fox Run Management L.L.C. purchased a new position in Silgan Holdings during the first quarter valued at about $293,000. 33.42% of the stock is currently owned by hedge funds and other institutional investors.
Silgan Holdings Inc. (NASDAQ SLGN) traded up 0.06% on Friday, hitting $31.63. The stock had a trading volume of 788,699 shares. The company’s 50 day moving average is $49.83 and its 200 day moving average is $55.09. The firm has a market cap of $3.49 billion, a PE ratio of 24.83 and a beta of 0.55. Silgan Holdings Inc. has a 12-month low of $30.97 and a 12-month high of $32.50.
Silgan Holdings (NASDAQ:SLGN) last released its earnings results on Wednesday, April 26th. The industrial products company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. Silgan Holdings had a net margin of 4.14% and a return on equity of 28.84%. The business had revenue of $805.40 million during the quarter, compared to analysts’ expectations of $795.58 million. During the same quarter last year, the company earned $0.23 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. On average, equities research analysts expect that Silgan Holdings Inc. will post $1.66 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Tuesday, May 30th. Silgan Holdings’s payout ratio is presently 28.46%.
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Several research firms recently issued reports on SLGN. Zacks Investment Research lowered Silgan Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. BidaskClub lowered Silgan Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays PLC increased their target price on Silgan Holdings from $27.50 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, May 1st. BMO Capital Markets reaffirmed a “buy” rating and issued a $32.50 price target on shares of Silgan Holdings in a research report on Monday, March 27th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Silgan Holdings in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Silgan Holdings currently has an average rating of “Hold” and a consensus price target of $28.75.
In other Silgan Holdings news, VP Adam J. Greenlee sold 5,643 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $61.56, for a total transaction of $347,383.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP B Frederik Prinzen sold 3,204 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $62.28, for a total transaction of $199,545.12. The disclosure for this sale can be found here. 32.94% of the stock is currently owned by company insiders.
About Silgan Holdings
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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