Silgan Holdings Inc. (SLGN) Position Boosted by JPMorgan Chase & Co.
JPMorgan Chase & Co. boosted its position in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 0.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,893,366 shares of the company’s stock after buying an additional 53,213 shares during the period. JPMorgan Chase & Co. owned 9.75% of Silgan Holdings worth $298,145,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Fiera Capital Corp purchased a new stake in shares of Silgan Holdings during the second quarter worth approximately $54,190,000. Deprince Race & Zollo Inc. bought a new stake in Silgan Holdings during the third quarter worth about $23,666,000. Nordea Investment Management AB bought a new stake in Silgan Holdings during the third quarter worth about $22,910,000. FMR LLC boosted its stake in Silgan Holdings by 6.4% in the second quarter. FMR LLC now owns 6,112,850 shares of the company’s stock worth $314,567,000 after buying an additional 366,272 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in Silgan Holdings during the second quarter worth about $12,592,000. Hedge funds and other institutional investors own 71.42% of the company’s stock.
Silgan Holdings Inc. (NASDAQ:SLGN) opened at 50.93 on Tuesday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 19.84 and a beta of 0.60. Silgan Holdings Inc. has a 12-month low of $47.16 and a 12-month high of $55.90. The firm has a 50-day moving average of $50.28 and a 200 day moving average of $50.09.
Silgan Holdings (NASDAQ:SLGN) last posted its earnings results on Wednesday, October 26th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.25 by $0.02. Silgan Holdings had a return on equity of 24.33% and a net margin of 4.30%. The firm earned $1.14 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company earned $1.26 EPS. The business’s revenue was down 5.3% compared to the same quarter last year. Analysts expect that Silgan Holdings Inc. will post $2.76 EPS for the current fiscal 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 given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.68 annualized dividend and a yield of 1.35%. Silgan Holdings’s payout ratio is currently 26.36%.
A number of analysts have recently issued reports on SLGN shares. Citigroup Inc. cut 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 note on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Silgan Holdings from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. Finally, JPMorgan Chase & Co. started coverage on shares of Silgan Holdings in a research note on Tuesday, September 13th. They set a “neutral” rating and a $51.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $52.63.
In related news, Director D Greg Horrigan sold 434,374 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $50.75, for a total transaction of $22,044,480.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Adam J. Greenlee sold 4,417 shares of the stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $50.03, for a total transaction of $220,982.51. The disclosure for this sale can be found here. Corporate insiders own 32.94% 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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