Robert B. Lewis Sells 15,000 Shares of Silgan Holdings Inc. (SLGN) Stock

Silgan Holdings Inc. (NASDAQ:SLGN) VP Robert B. Lewis sold 15,000 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $24.10, for a total transaction of $361,500.00. Following the completion of the transaction, the vice president now directly owns 398,063 shares of the company’s stock, valued at approximately $9,593,318.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of SLGN stock opened at $24.40 on Friday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.15 and a beta of 0.68. Silgan Holdings Inc. has a 52 week low of $23.14 and a 52 week high of $31.05. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.28 and a current ratio of 0.47.

Silgan (NASDAQ:SLGN) last announced its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Silgan had a net margin of 7.59% and a return on equity of 26.91%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. As a group, equities analysts expect that Silgan Holdings Inc. will post 2.05 earnings per share for the current fiscal year.

SLGN has been the subject of several recent analyst reports. Royal Bank of Canada dropped their target price on shares of Silgan to $25.00 and set a “sector perform” rating for the company in a report on Monday, October 29th. Robert W. Baird dropped their target price on shares of Silgan from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. BidaskClub downgraded shares of Silgan from a “hold” rating to a “sell” rating in a report on Saturday, August 11th. Wells Fargo & Co dropped their target price on shares of Silgan from $30.00 to $26.00 and set a “market perform” rating for the company in a report on Thursday, October 25th. Finally, Barclays dropped their target price on shares of Silgan from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Monday, October 29th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Silgan currently has a consensus rating of “Hold” and a consensus price target of $29.33.

A number of hedge funds have recently made changes to their positions in SLGN. Royal Bank of Canada lifted its stake in Silgan by 8.2% in the 1st quarter. Royal Bank of Canada now owns 521,276 shares of the industrial products company’s stock worth $14,517,000 after purchasing an additional 39,696 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in shares of Silgan by 54.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 11,888 shares of the industrial products company’s stock valued at $331,000 after buying an additional 4,200 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Silgan by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 328,477 shares of the industrial products company’s stock valued at $9,148,000 after buying an additional 12,971 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Silgan during the 1st quarter valued at about $283,000. Finally, Brown Advisory Inc. raised its position in shares of Silgan by 18.4% during the 1st quarter. Brown Advisory Inc. now owns 56,996 shares of the industrial products company’s stock valued at $1,587,000 after buying an additional 8,844 shares in the last quarter. Institutional investors and hedge funds own 67.02% of the company’s stock.

About Silgan

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.

Further Reading: Book Value Per Share – BVPS

Insider Buying and Selling by Quarter for Silgan (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.

Leave a Reply