Silgan Holdings Inc. (NASDAQ:SLGN) Shares Bought by Acadian Asset Management LLC
Acadian Asset Management LLC increased its position in Silgan Holdings Inc. (NASDAQ:SLGN) by 42.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,924 shares of the industrial products company’s stock after buying an additional 6,883 shares during the period. Acadian Asset Management LLC’s holdings in Silgan Holdings were worth $728,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Silgan Holdings by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,918,778 shares of the industrial products company’s stock worth $232,618,000 after buying an additional 247,984 shares in the last quarter. BlackRock Inc. raised its stake in shares of Silgan Holdings by 12,224.8% in the first quarter. BlackRock Inc. now owns 3,200,257 shares of the industrial products company’s stock worth $189,966,000 after buying an additional 3,174,291 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Silgan Holdings by 2.2% in the first quarter. Wellington Management Group LLP now owns 1,533,986 shares of the industrial products company’s stock worth $91,058,000 after buying an additional 32,672 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Silgan Holdings by 96.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,164,656 shares of the industrial products company’s stock worth $37,013,000 after buying an additional 571,928 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Silgan Holdings by 101.5% in the second quarter. Russell Investments Group Ltd. now owns 1,027,745 shares of the industrial products company’s stock worth $32,661,000 after buying an additional 517,697 shares in the last quarter. Hedge funds and other institutional investors own 36.00% of the company’s stock.
Silgan Holdings Inc. (SLGN) traded up 0.23% during trading on Friday, hitting $30.49. 349,722 shares of the company were exchanged. Silgan Holdings Inc. has a 1-year low of $27.98 and a 1-year high of $64.98. The firm’s 50 day moving average price is $31.36 and its 200-day moving average price is $49.36. The stock has a market capitalization of $3.36 billion, a PE ratio of 24.22 and a beta of 0.54.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $0.60 EPS. Silgan Holdings’s quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts predict that Silgan Holdings Inc. will post $1.66 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.09 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.36 annualized dividend and a yield of 1.18%. Silgan Holdings’s dividend payout ratio (DPR) is presently 29.03%.
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A number of analysts have recently commented on SLGN shares. ValuEngine upgraded shares of Silgan Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 31st. BidaskClub lowered shares of Silgan Holdings from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Deutsche Bank AG reiterated a “hold” rating and issued a $30.00 price target (down from $60.00) on shares of Silgan Holdings in a research note on Monday, June 5th. KeyCorp reiterated a “hold” rating on shares of Silgan Holdings in a research note on Wednesday, April 26th. Finally, Barclays PLC lifted their price target on shares of Silgan Holdings from $27.50 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, May 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $31.36.
In related news, VP Adam J. Greenlee sold 5,643 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $61.56, for a total value of $347,383.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 33.10% of the stock is currently owned by corporate insiders.
About Silgan Holdings
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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