Envestnet Asset Management Inc. boosted its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 9.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,322 shares of the industrial products company’s stock after buying an additional 207 shares during the period. Envestnet Asset Management Inc.’s holdings in Silgan Holdings were worth $139,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in SLGN. Norges Bank purchased a new position in shares of Silgan Holdings during the fourth quarter worth about $36,931,000. American Century Companies Inc. bought a new position in shares of Silgan Holdings during the first quarter valued at $33,329,000. Mesirow Financial Investment Management Equity Management bought a new position in shares of Silgan Holdings during the first quarter valued at $18,380,000. First Quadrant L P CA boosted its position in shares of Silgan Holdings by 194.5% in the first quarter. First Quadrant L P CA now owns 216,381 shares of the industrial products company’s stock valued at $12,844,000 after buying an additional 142,908 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Silgan Holdings during the fourth quarter valued at $3,262,000. 34.07% of the stock is owned by institutional investors and hedge funds.
Shares of Silgan Holdings Inc. (NASDAQ:SLGN) traded down 1.23% during mid-day trading on Friday, hitting $30.47. The stock had a trading volume of 782,941 shares. The stock’s 50-day moving average is $31.68 and its 200 day moving average is $51.05. The company has a market cap of $3.36 billion, a PE ratio of 24.20 and a beta of 0.55. Silgan Holdings Inc. has a 12 month low of $23.58 and a 12 month high of $32.50.
Silgan Holdings (NASDAQ:SLGN) last released its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business posted $0.60 earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis. On average, equities research analysts forecast that Silgan Holdings Inc. will post $1.66 earnings per share for the current fiscal year.
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SLGN has been the topic of several recent analyst reports. Zacks Investment Research cut Silgan Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, April 6th. KeyCorp restated a “hold” rating on shares of Silgan Holdings in a research note on Wednesday, April 26th. Barclays PLC raised their price objective on Silgan Holdings from $27.50 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, May 1st. ValuEngine upgraded Silgan Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 31st. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $30.00 target price (down from $60.00) on shares of Silgan Holdings in a research note on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Silgan Holdings presently has a consensus rating of “Hold” and a consensus target price of $30.81.
In other news, VP Adam J. Greenlee sold 5,643 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $61.56, for a total value of $347,383.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP B Frederik Prinzen sold 3,204 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $62.28, for a total value of $199,545.12. The disclosure for this sale can be found here. Company insiders own 33.10% of the company’s stock.
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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