Ameriprise Financial Inc. Raises Stake in Silgan Holdings Inc. (SLGN)
Ameriprise Financial Inc. increased its position in Silgan Holdings Inc. (NASDAQ:SLGN) by 163.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 319,744 shares of the industrial products company’s stock after buying an additional 198,495 shares during the period. Ameriprise Financial Inc. owned 0.29% of Silgan Holdings worth $10,161,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of SLGN. Bank of Montreal Can grew its stake in shares of Silgan Holdings by 89.3% in the 2nd quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock valued at $124,000 after buying an additional 1,847 shares during the period. NN Investment Partners Holdings N.V. acquired a new stake in shares of Silgan Holdings in the 2nd quarter valued at about $127,000. Envestnet Asset Management Inc. grew its stake in shares of Silgan Holdings by 9.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock valued at $139,000 after buying an additional 207 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Silgan Holdings in the 2nd quarter valued at about $140,000. Finally, Pacer Advisors Inc. grew its stake in shares of Silgan Holdings by 1.0% in the 1st quarter. Pacer Advisors Inc. now owns 2,732 shares of the industrial products company’s stock valued at $162,000 after buying an additional 27 shares during the period. Institutional investors own 67.00% of the company’s stock.
Silgan Holdings Inc. (SLGN) opened at 28.62 on Friday. The company has a 50-day moving average of $29.38 and a 200 day moving average of $30.49. The company has a market cap of $3.16 billion, a PE ratio of 22.73 and a beta of 0.53. Silgan Holdings Inc. has a 12 month low of $23.86 and a 12 month high of $32.50.
Silgan Holdings (NASDAQ:SLGN) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. The business’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, equities analysts forecast that Silgan Holdings Inc. will post $1.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Wednesday, August 30th. Silgan Holdings’s dividend payout ratio (DPR) is presently 29.03%.
Several analysts have recently commented on SLGN shares. BMO Capital Markets restated a “buy” rating and issued a $34.00 target price on shares of Silgan Holdings in a research note on Sunday, July 9th. KeyCorp reaffirmed a “hold” rating on shares of Silgan Holdings in a research report on Thursday. ValuEngine cut shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub cut shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Bank of America Corporation cut shares of Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $32.00.
In other Silgan Holdings news, VP Robert B. Lewis sold 7,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $29.70, for a total value of $207,900.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Anthony P. Andreacchi sold 2,192 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $30.18, for a total transaction of $66,154.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,698 shares of company stock worth $597,429. Corporate insiders own 33.10% of the company’s stock.
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Silgan Holdings Profile
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
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