Silgan Holdings Inc. (SLGN) Holdings Lifted by Millennium Management LLC
Millennium Management LLC grew its position in Silgan Holdings Inc. (NASDAQ:SLGN) by 1,994.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,301,496 shares of the industrial products company’s stock after purchasing an additional 1,239,355 shares during the period. Millennium Management LLC owned approximately 1.18% of Silgan worth $38,251,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLGN. Raymond James & Associates lifted its stake in shares of Silgan by 22.5% in the 4th quarter. Raymond James & Associates now owns 25,643 shares of the industrial products company’s stock worth $754,000 after acquiring an additional 4,714 shares during the period. HBK Investments L P lifted its stake in shares of Silgan by 219.4% in the 4th quarter. HBK Investments L P now owns 41,200 shares of the industrial products company’s stock worth $1,211,000 after acquiring an additional 28,300 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Silgan in the 4th quarter worth approximately $312,000. Two Sigma Advisers LP acquired a new stake in shares of Silgan in the 4th quarter worth approximately $1,946,000. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of Silgan in the 4th quarter worth approximately $794,000. Hedge funds and other institutional investors own 68.09% of the company’s stock.
In related news, Director D Greg Horrigan sold 355,934 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $28.01, for a total transaction of $9,969,711.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert B. Lewis sold 15,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $29.01, for a total transaction of $435,150.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 468,655 shares of company stock valued at $13,206,189. Company insiders own 33.10% of the company’s stock.
Shares of Silgan Holdings Inc. (SLGN) opened at $27.32 on Friday. Silgan Holdings Inc. has a one year low of $27.21 and a one year high of $32.50. The company has a market cap of $3,075.33, a P/E ratio of 16.99, a P/E/G ratio of 1.33 and a beta of 0.53. The company has a current ratio of 1.35, a quick ratio of 0.60 and a debt-to-equity ratio of 3.18.
Silgan (NASDAQ:SLGN) last released its earnings results on Tuesday, January 30th. The industrial products company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Silgan had a net margin of 6.59% and a return on equity of 30.15%. The business had revenue of $995.70 million during the quarter, compared to analyst estimates of $970.24 million. During the same period in the prior year, the business earned $0.48 earnings per share. The business’s quarterly revenue was up 23.6% on a year-over-year basis. equities analysts predict that Silgan Holdings Inc. will post 2.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 15th. This is a positive change from Silgan’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.46%. Silgan’s dividend payout ratio is currently 16.53%.
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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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