Silgan Holdings Inc. (SLGN) Shares Sold by Neuberger Berman Group LLC
Neuberger Berman Group LLC decreased its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 3.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,486,793 shares of the company’s stock after selling 55,488 shares during the period. Neuberger Berman Group LLC owned about 2.46% of Silgan Holdings worth $75,217,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of SLGN. FMR LLC boosted its position in Silgan Holdings by 6.4% in the second quarter. FMR LLC now owns 6,112,850 shares of the company’s stock valued at $314,567,000 after buying an additional 366,272 shares during the period. JPMorgan Chase & Co. boosted its position in Silgan Holdings by 0.8% in the second quarter. JPMorgan Chase & Co. now owns 5,840,153 shares of the company’s stock valued at $300,534,000 after buying an additional 46,697 shares during the period. Vanguard Group Inc. boosted its position in Silgan Holdings by 3.0% in the second quarter. Vanguard Group Inc. now owns 3,350,749 shares of the company’s stock valued at $172,430,000 after buying an additional 96,176 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Silgan Holdings by 2.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,653,778 shares of the company’s stock valued at $85,103,000 after buying an additional 37,175 shares during the period. Finally, BlackRock Fund Advisors boosted its position in Silgan Holdings by 5.2% in the second quarter. BlackRock Fund Advisors now owns 1,473,962 shares of the company’s stock valued at $75,850,000 after buying an additional 73,076 shares during the period. 71.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Silgan Holdings Inc. (NASDAQ:SLGN) opened at 50.93 on Tuesday. The firm has a 50-day moving average price of $50.28 and a 200 day moving average price of $50.09. Silgan Holdings Inc. has a 12-month low of $47.16 and a 12-month high of $55.90. The company has a market capitalization of $3.07 billion, a P/E ratio of 19.84 and a beta of 0.60.
Silgan Holdings (NASDAQ:SLGN) last issued 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. Silgan Holdings had a return on equity of 24.33% and a net margin of 4.30%. The business earned $1.14 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts predict that Silgan Holdings Inc. will post $2.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a $0.17 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.68 annualized dividend and a dividend yield of 1.35%. Silgan Holdings’s payout ratio is 26.36%.
SLGN has been the topic of several research analyst reports. Zacks Investment Research raised Silgan Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, September 1st. JPMorgan Chase & Co. initiated coverage on Silgan Holdings in a research note on Tuesday, September 13th. They set a “neutral” rating and a $51.00 target price on the stock. Finally, Citigroup Inc. dropped their price target on Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $52.63.
In other news, VP Adam J. Greenlee sold 4,417 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $50.03, for a total value of $220,982.51. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Anthony J. Allott sold 33,875 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $50.75, for a total value of $1,719,156.25. The disclosure for this sale can be found here. 32.94% of the stock is owned by insiders.
About Silgan Holdings
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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