Louisiana State Employees Retirement System decreased its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 3.6% during the second quarter, Holdings Channel reports. The firm owned 10,800 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Silgan Holdings were worth $556,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in SLGN. 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 last quarter. M&T Bank Corp acquired a new position in shares of Silgan Holdings during the first quarter worth about $289,000. NN Investment Partners Holdings N.V. acquired 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 last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Silgan Holdings during the second quarter worth about $714,000. 68.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of Silgan Holdings Inc. (NASDAQ:SLGN) traded up 6.25% during midday trading on Monday, hitting $50.80. 698,730 shares of the company were exchanged. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 19.74 and a beta of 0.53. The firm’s 50 day moving average price is $49.12 and its 200 day moving average price is $50.47. Silgan Holdings Inc. has a one year low of $47.00 and a one year high of $55.90.
Silgan Holdings (NASDAQ:SLGN) last posted its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. Silgan Holdings had a net margin of 4.23% and a return on equity of 25.69%. The firm had revenue of $874.60 million for the quarter, compared to analyst estimates of $895.15 million. During the same period in the previous year, the firm posted $0.71 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts forecast that Silgan Holdings Inc. will post $2.80 EPS for the current fiscal year.
SLGN has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Silgan Holdings from a “sell” rating to a “hold” rating in a report on Monday, July 11th. 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 on the stock. Citigroup Inc. cut their target price on shares of Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, August 2nd. Finally, Wells Fargo & Co. lowered shares of Silgan Holdings from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.33.
In other Silgan Holdings news, VP B Frederik Prinzen sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $48.05, for a total transaction of $48,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Anthony P. Andreacchi sold 1,221 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $48.48, for a total transaction of $59,194.08. The disclosure for this sale can be found here. Company insiders own 32.94% of the company’s stock.
Silgan Holdings Company Profile
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.