Tdam USA Inc. cut its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 1.5% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 24,975 shares of the company’s stock after selling 368 shares during the period. Tdam USA Inc.’s holdings in Silgan Holdings were worth $1,263,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Ngam Advisors L.P. boosted its position in shares of Silgan Holdings by 3.2% in the second quarter. Ngam Advisors L.P. now owns 163,454 shares of the company’s stock worth $8,411,000 after buying an additional 5,003 shares during the last quarter. TrimTabs Asset Management LLC bought a new position in shares of Silgan Holdings during the second quarter worth about $1,577,000. BB&T Corp bought a new position in shares of Silgan Holdings during the second quarter worth about $2,372,000. Aberdeen Asset Management PLC UK boosted its position in shares of Silgan Holdings by 66.5% in the second quarter. Aberdeen Asset Management PLC UK now owns 327,455 shares of the company’s stock worth $16,851,000 after buying an additional 130,745 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Silgan Holdings during the second quarter worth about $714,000. 69.90% of the stock is owned by hedge funds and other institutional investors.
Silgan Holdings Inc. (NASDAQ:SLGN) traded up 0.90% during midday trading on Friday, reaching $50.24. The company had a trading volume of 905,149 shares. The firm has a 50-day moving average of $50.09 and a 200-day moving average of $50.13. Silgan Holdings Inc. has a 12 month low of $47.16 and a 12 month high of $55.90. The stock has a market cap of $3.03 billion, a P/E ratio of 19.57 and a beta of 0.60.
Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by $0.02. Silgan Holdings had a return on equity of 24.33% and a net margin of 4.30%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business posted $1.26 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, equities analysts expect that Silgan Holdings Inc. will post $2.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Tuesday, November 29th. Silgan Holdings’s payout ratio is currently 26.36%.
A number of equities analysts have recently issued reports on SLGN shares. Wells Fargo & Co. cut Silgan Holdings from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Citigroup Inc. dropped their target price on Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Tuesday, August 2nd. Zacks Investment Research raised Silgan Holdings from a “sell” rating to a “hold” rating in a report on Monday, August 22nd. Finally, JPMorgan Chase & Co. started coverage on Silgan Holdings in a report on Tuesday, September 13th. They issued a “neutral” rating and a $51.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $52.63.
In other news, VP Adam J. Greenlee sold 4,417 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $50.03, for a total transaction of $220,982.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director D Greg Horrigan sold 434,374 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $50.75, for a total value of $22,044,480.50. The disclosure for this sale can be found here. Corporate insiders own 32.94% of the company’s stock.
About Silgan Holdings
Silgan Holdings Inc (Silgan) is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products. The Company operates through three segments: metal container, closures and plastic container. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products.