OppenheimerFunds Inc. Has $1.22 Million Stake in Silgan Holdings Inc. (SLGN)
OppenheimerFunds Inc. lifted its position in Silgan Holdings Inc. (NASDAQ:SLGN) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 45,275 shares of the industrial products company’s stock after purchasing an additional 1,931 shares during the quarter. OppenheimerFunds Inc.’s holdings in Silgan were worth $1,215,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of Silgan by 1,262.8% in the 2nd quarter. Victory Capital Management Inc. now owns 125,870 shares of the industrial products company’s stock worth $3,377,000 after purchasing an additional 116,634 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Silgan in the 2nd quarter worth about $208,000. Prudential Financial Inc. grew its holdings in shares of Silgan by 16.1% in the 1st quarter. Prudential Financial Inc. now owns 61,992 shares of the industrial products company’s stock worth $1,727,000 after purchasing an additional 8,592 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Silgan by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,139,894 shares of the industrial products company’s stock worth $30,584,000 after purchasing an additional 100,755 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Silgan by 4.1% in the 1st quarter. Principal Financial Group Inc. now owns 328,477 shares of the industrial products company’s stock worth $9,148,000 after purchasing an additional 12,971 shares during the last quarter. 67.08% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Silgan from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. BidaskClub raised shares of Silgan from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Finally, UBS Group began coverage on shares of Silgan in a report on Wednesday, June 20th. They set a “sell” rating and a $25.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.00.
Silgan (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Silgan had a net margin of 7.37% and a return on equity of 28.00%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. The company’s revenue was up 3.7% on a year-over-year basis. analysts expect that Silgan Holdings Inc. will post 2.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, August 31st. Silgan’s dividend payout ratio (DPR) is presently 24.24%.
In other news, VP Anthony P. Andreacchi sold 1,843 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $27.15, for a total value of $50,037.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John W. Alden sold 6,000 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $27.24, for a total transaction of $163,440.00. Following the completion of the transaction, the director now directly owns 65,655 shares in the company, valued at approximately $1,788,442.20. The disclosure for this sale can be found here. Insiders sold a total of 25,843 shares of company stock worth $707,037 in the last ninety days. Insiders own 30.32% of the company’s stock.
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 soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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