American International Group Inc. trimmed its position in Silgan Holdings Inc. (NASDAQ:SLGN) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,208 shares of the industrial products company’s stock after selling 2,313 shares during the quarter. American International Group Inc. owned approximately 0.14% of Silgan worth $4,450,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Bank of Montreal Can boosted its holdings in shares of Silgan by 89.3% during the second quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 1,847 shares during the period. Victory Capital Management Inc. acquired a new stake in Silgan during the second quarter worth $140,000. Pacad Investment Ltd. boosted its stake in Silgan by 15.6% during the second quarter. Pacad Investment Ltd. now owns 5,200 shares of the industrial products company’s stock worth $165,000 after buying an additional 700 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Silgan by 136.4% during the second quarter. LS Investment Advisors LLC now owns 5,788 shares of the industrial products company’s stock worth $184,000 after buying an additional 3,340 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Silgan by 100.0% during the second quarter. US Bancorp DE now owns 6,762 shares of the industrial products company’s stock worth $215,000 after buying an additional 3,381 shares in the last quarter. Institutional investors own 67.69% of the company’s stock.
A number of equities research analysts have weighed in on the stock. KeyCorp reiterated a “hold” rating on shares of Silgan in a research note on Friday, August 25th. BidaskClub upgraded shares of Silgan from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. BMO Capital Markets restated a “buy” rating and issued a $34.00 target price on shares of Silgan in a research note on Monday, November 20th. ValuEngine downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research downgraded shares of Silgan from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $31.57.
Silgan (NASDAQ:SLGN) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. Silgan had a net margin of 3.77% and a return on equity of 32.87%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. sell-side analysts predict that Silgan Holdings Inc. will post 1.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.09 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.24%. Silgan’s dividend payout ratio (DPR) is presently 27.38%.
In related news, Director William C. Jennings sold 25,642 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $28.38, for a total value of $727,719.96. Following the completion of the transaction, the director now directly owns 42,180 shares in the company, valued at approximately $1,197,068.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 33.10% of the stock is currently owned by insiders.
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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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