GSA Capital Partners LLP Invests $1.35 Million in Silgan Holdings Inc. (NASDAQ:SLGN)

GSA Capital Partners LLP bought a new position in shares of Silgan Holdings Inc. (NASDAQ:SLGN) during the 2nd quarter, Holdings reports. The fund bought 44,069 shares of the industrial products company’s stock, valued at approximately $1,349,000.

Several other institutional investors and hedge funds have also made changes to their positions in SLGN. LSV Asset Management increased its holdings in shares of Silgan by 74.4% during the first quarter. LSV Asset Management now owns 1,322,383 shares of the industrial products company’s stock worth $39,182,000 after purchasing an additional 564,147 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Silgan during the 1st quarter worth approximately $8,471,000. BTIM Corp. boosted its position in shares of Silgan by 15.2% during the 2nd quarter. BTIM Corp. now owns 899,746 shares of the industrial products company’s stock worth $27,533,000 after acquiring an additional 118,934 shares in the last quarter. AJO LP acquired a new stake in shares of Silgan during the 1st quarter worth approximately $2,873,000. Finally, Clark Capital Management Group Inc. acquired a new stake in shares of Silgan during the 2nd quarter worth approximately $2,628,000. 62.86% of the stock is currently owned by institutional investors.

In other Silgan news, insider Thomas James Snyder sold 10,444 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.02, for a total value of $323,972.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 30.32% of the company’s stock.

Shares of NASDAQ SLGN traded down $0.45 during trading hours on Friday, hitting $29.51. 295,362 shares of the stock were exchanged, compared to its average volume of 450,886. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.49 and a current ratio of 0.98. The company has a market cap of $3.33 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.79 and a beta of 0.79. The company’s fifty day simple moving average is $30.41 and its two-hundred day simple moving average is $29.71. Silgan Holdings Inc. has a 1-year low of $22.24 and a 1-year high of $31.69.

Silgan (NASDAQ:SLGN) last posted its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. Silgan had a net margin of 4.46% and a return on equity of 26.45%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. As a group, sell-side analysts expect that Silgan Holdings Inc. will post 2.2 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.11 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.44 dividend on an annualized basis and a yield of 1.49%. Silgan’s dividend payout ratio is currently 21.15%.

Several research firms recently issued reports on SLGN. Citigroup increased their price target on shares of Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. JPMorgan Chase & Co. upgraded shares of 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 research report on Wednesday, July 17th. Finally, BidaskClub upgraded shares of Silgan from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Silgan currently has a consensus rating of “Hold” and a consensus price target of $30.63.

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 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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Institutional Ownership by Quarter for Silgan (NASDAQ:SLGN)

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