Silgan Holdings Inc. (SLGN) Director D Greg Horrigan Sells 434,374 Shares
Silgan Holdings Inc. (NASDAQ:SLGN) Director D Greg Horrigan sold 434,374 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $50.75, for a total transaction of $22,044,480.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Silgan Holdings Inc. (NASDAQ:SLGN) opened at 49.79 on Thursday. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 19.40 and a beta of 0.60. The firm’s 50-day moving average is $50.09 and its 200 day moving average is $50.13. Silgan Holdings Inc. has a 52-week low of $47.16 and a 52-week high of $55.90.
Silgan Holdings (NASDAQ:SLGN) last posted its 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 firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Silgan Holdings had a net margin of 4.30% and a return on equity of 24.33%. Silgan Holdings’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the firm earned $1.26 earnings per share. On average, equities research analysts predict that Silgan Holdings Inc. will post $2.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Tuesday, November 29th. Silgan Holdings’s dividend payout ratio (DPR) is 26.36%.
A number of analysts have recently issued reports on SLGN shares. Zacks Investment Research raised shares of Silgan Holdings from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. Wells Fargo & Co. lowered shares of Silgan Holdings from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 28th. Citigroup Inc. dropped their target price on shares of Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. began coverage on shares of Silgan Holdings in a research report on Tuesday, September 13th. They set a “neutral” rating and a $51.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $52.63.
Several institutional investors have recently bought and sold shares of SLGN. Tower Research Capital LLC TRC raised its position 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 raised its position 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. purchased a new position in Silgan Holdings during the second quarter valued at $129,000. Victory Capital Management Inc. purchased a new position in Silgan Holdings during the third quarter valued at $156,000. Finally, Sei Investments Co. raised its position 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. 69.90% of the stock is owned by hedge funds and other institutional investors.
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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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