Silgan Holdings Inc. (SLGN) Stake Lowered by State of Wisconsin Investment Board
State of Wisconsin Investment Board decreased its position in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 63.6% during the first quarter, Holdings Channel reports. The firm owned 7,390 shares of the industrial products company’s stock after selling 12,894 shares during the period. State of Wisconsin Investment Board’s holdings in Silgan Holdings were worth $439,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Seven Eight Capital LP acquired a new position in shares of Silgan Holdings during the fourth quarter worth $322,000. Tudor Investment Corp Et Al acquired a new position in shares of Silgan Holdings during the fourth quarter worth $1,018,000. Two Sigma Investments LP acquired a new position in shares of Silgan Holdings during the fourth quarter worth $5,681,000. Capstone Investment Advisors LLC acquired a new position in shares of Silgan Holdings during the fourth quarter worth $646,000. Finally, Menta Capital LLC acquired a new position in shares of Silgan Holdings during the fourth quarter worth $2,092,000. 33.42% of the stock is currently owned by hedge funds and other institutional investors.
Silgan Holdings Inc. (NASDAQ SLGN) opened at 31.63 on Friday. The stock’s 50 day moving average is $49.83 and its 200-day moving average is $55.09. The firm has a market capitalization of $3.49 billion, a PE ratio of 24.83 and a beta of 0.55. Silgan Holdings Inc. has a 52-week low of $30.97 and a 52-week high of $64.98.
Silgan Holdings (NASDAQ:SLGN) last announced its earnings results on Wednesday, April 26th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $805.40 million during the quarter, compared to analysts’ expectations of $795.58 million. Silgan Holdings had a return on equity of 28.84% and a net margin of 4.14%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. Equities analysts expect that Silgan Holdings Inc. will post $1.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.36 dividend on an annualized basis and a yield of 1.14%. Silgan Holdings’s payout ratio is currently 28.46%.
SLGN has been the topic of a number of recent research reports. Barclays PLC boosted their target price on shares of Silgan Holdings from $27.50 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, May 1st. Deutsche Bank AG reissued a “hold” rating and set a $30.00 target price (down from $60.00) on shares of Silgan Holdings in a research report on Monday, June 5th. BidaskClub cut shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. ValuEngine raised shares of Silgan Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 31st. Finally, Zacks Investment Research raised shares of Silgan Holdings from a “sell” rating to a “hold” rating in a research report on Monday, April 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Silgan Holdings currently has an average rating of “Hold” and an average price target of $28.75.
In other news, VP B Frederik Prinzen sold 3,204 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $62.28, for a total value of $199,545.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 disclosure for this sale can be found here. 32.94% of the stock is 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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