Insider Selling: Silgan Holdings Inc. (SLGN) Insider Sells 33,875 Shares of Stock
Silgan Holdings Inc. (NASDAQ:SLGN) insider Anthony J. Allott sold 33,875 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $50.75, for a total transaction of $1,719,156.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Silgan Holdings Inc. (NASDAQ:SLGN) traded up 0.14% during trading on Wednesday, reaching $49.79. 371,299 shares of the company traded hands. Silgan Holdings Inc. has a 52 week low of $47.16 and a 52 week high of $55.90. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 19.40 and a beta of 0.60. The company’s 50-day moving average price is $50.06 and its 200 day moving average price is $50.13.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, October 26th. The company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.25 by $0.02. The company earned $1.14 billion during the quarter, compared to the consensus estimate of $1.18 billion. Silgan Holdings had a net margin of 4.30% and a return on equity of 24.33%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS. On average, equities research analysts expect that Silgan Holdings Inc. will post $2.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, November 29th. Silgan Holdings’s dividend payout ratio (DPR) is currently 26.36%.
SLGN has been the topic of several research reports. Zacks Investment Research upgraded shares of Silgan Holdings from a “sell” rating to a “hold” rating in a report on Thursday, September 1st. JPMorgan Chase & Co. initiated coverage on shares of Silgan Holdings in a report on Tuesday, September 13th. They set a “neutral” rating and a $51.00 price objective on the stock. Wells Fargo & Co. downgraded shares of Silgan Holdings from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Finally, Citigroup Inc. lowered their price objective on shares of Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Silgan Holdings has a consensus rating of “Hold” and an average target price of $52.63.
A number of hedge funds have recently added to or reduced their stakes in SLGN. Tower Research Capital LLC TRC boosted its stake in Silgan Holdings by 102.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,323 shares of the company’s stock valued at $117,000 after buying an additional 1,177 shares during the period. LS Investment Advisors LLC boosted its stake in Silgan Holdings by 78.4% in the second quarter. LS Investment Advisors LLC now owns 2,467 shares of the company’s stock valued at $127,000 after buying an additional 1,084 shares during the period. Pacer Advisors Inc. bought a new stake in Silgan Holdings during the second quarter valued at $129,000. Victory Capital Management Inc. bought a new stake in Silgan Holdings during the third quarter valued at $156,000. Finally, Sei Investments Co. boosted its stake in Silgan Holdings by 127.2% in the second quarter. Sei Investments Co. now owns 3,729 shares of the company’s stock valued at $192,000 after buying an additional 2,088 shares during the period. Institutional investors and hedge funds own 69.90% of the company’s stock.
Silgan Holdings Company Profile
Silgan Holdings Inc (Silgan) is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products. The Company operates through three segments: metal container, closures and plastic container. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products.
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