Silgan Holdings Inc. (NASDAQ:SLGN) Shares Bought by Credit Suisse AG
Credit Suisse AG raised its position in Silgan Holdings Inc. (NASDAQ:SLGN) by 10.2% during the first quarter, Holdings Channel reports. The firm owned 36,983 shares of the industrial products company’s stock after buying an additional 3,437 shares during the period. Credit Suisse AG’s holdings in Silgan Holdings were worth $2,194,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in Silgan Holdings by 9.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock worth $139,000 after buying an additional 207 shares during the period. Pacer Advisors Inc. increased its position in Silgan Holdings by 1.0% in the first quarter. Pacer Advisors Inc. now owns 2,732 shares of the industrial products company’s stock valued at $162,000 after buying an additional 27 shares in the last quarter. Neuburgh Advisers LLC increased its position in Silgan Holdings by 157.5% in the first quarter. Neuburgh Advisers LLC now owns 3,296 shares of the industrial products company’s stock valued at $196,000 after buying an additional 2,016 shares in the last quarter. US Bancorp DE increased its position in Silgan Holdings by 3.1% in the first quarter. US Bancorp DE now owns 3,381 shares of the industrial products company’s stock valued at $200,000 after buying an additional 101 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in Silgan Holdings during the first quarter valued at about $201,000. Institutional investors and hedge funds own 36.00% of the company’s stock.
Silgan Holdings Inc. (NASDAQ:SLGN) traded up 0.42% on Tuesday, reaching $30.73. The company’s stock had a trading volume of 35,528 shares. Silgan Holdings Inc. has a 12 month low of $23.58 and a 12 month high of $32.50. The firm’s 50 day moving average is $31.63 and its 200-day moving average is $50.69. The firm has a market cap of $3.39 billion, a P/E ratio of 24.41 and a beta of 0.54.
Silgan Holdings (NASDAQ:SLGN) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. The company’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, equities research analysts anticipate that Silgan Holdings Inc. will post $1.66 EPS for the current year.
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SLGN has been the topic of several research reports. Zacks Investment Research raised Silgan Holdings from a “sell” rating to a “hold” rating in a report on Monday, April 17th. Deutsche Bank AG reaffirmed a “hold” rating and set a $30.00 price objective (down previously from $60.00) on shares of Silgan Holdings in a report on Monday, June 5th. BidaskClub downgraded Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. ValuEngine raised Silgan Holdings from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 31st. Finally, Barclays PLC upped their price objective on Silgan Holdings from $27.50 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.36.
In other Silgan Holdings news, VP Adam J. Greenlee sold 5,643 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $61.56, for a total transaction of $347,383.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP B Frederik Prinzen sold 3,204 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $62.28, for a total transaction of $199,545.12. The disclosure for this sale can be found here. Insiders own 33.10% of the company’s stock.
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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