New York State Teachers Retirement System maintained its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) during the second quarter, Holdings Channel reports. The fund owned 46,100 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Silgan Holdings were worth $2,372,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its position in shares of Silgan Holdings by 78.4% in the second quarter. LS Investment Advisors LLC now owns 2,467 shares of the company’s stock worth $127,000 after buying an additional 1,084 shares during the period. M&T Bank Corp bought a new position in shares of Silgan Holdings during the first quarter worth about $289,000. NN Investment Partners Holdings N.V. bought a new position in shares of Silgan Holdings during the first quarter worth about $298,000. UBS Group AG boosted its position in shares of Silgan Holdings by 58.2% in the first quarter. UBS Group AG now owns 12,935 shares of the company’s stock worth $688,000 after buying an additional 4,758 shares during the period. Finally, Zebra Capital Management LLC boosted its position in shares of Silgan Holdings by 22.1% in the first quarter. Zebra Capital Management LLC now owns 13,578 shares of the company’s stock worth $722,000 after buying an additional 2,461 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.
Silgan Holdings Inc. (NASDAQ:SLGN) traded up 0.27% during mid-day trading on Friday, reaching $47.81. 121,231 shares of the company’s stock traded hands. The company has a 50-day moving average of $49.03 and a 200-day moving average of $50.53. Silgan Holdings Inc. has a 52-week low of $47.00 and a 52-week high of $55.90. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 18.58 and a beta of 0.54.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The company earned $874.60 million during the quarter, compared to analyst estimates of $895.15 million. Silgan Holdings had a net margin of 4.23% and a return on equity of 25.69%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 EPS. Equities research analysts expect that Silgan Holdings Inc. will post $2.80 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Tuesday, August 30th. Silgan Holdings’s dividend payout ratio is currently 26.25%.
SLGN has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Silgan Holdings from a “sell” rating to a “hold” rating in a report on Monday, September 19th. Wells Fargo & Co. cut shares of 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 shares of Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. initiated coverage on shares of 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, eight have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $52.33.
In other news, VP Anthony P. Andreacchi sold 1,221 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $48.48, for a total value of $59,194.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP B Frederik Prinzen sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $48.05, for a total transaction of $48,050.00. The disclosure for this sale can be found here. 32.94% of the stock is currently owned by insiders.
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.