Renaissance Technologies LLC Boosts Position in Silgan Holdings Inc. (SLGN)
Renaissance Technologies LLC increased its position in Silgan Holdings Inc. (NASDAQ:SLGN) by 273.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 237,940 shares of the industrial products company’s stock after buying an additional 174,200 shares during the period. Renaissance Technologies LLC owned 0.43% of Silgan Holdings worth $14,124,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of SLGN. Norges Bank acquired a new position in Silgan Holdings during the fourth quarter valued at $36,931,000. American Century Companies Inc. purchased a new stake in Silgan Holdings during the first quarter valued at approximately $33,329,000. Mesirow Financial Investment Management Equity Management purchased a new stake in Silgan Holdings during the first quarter valued at approximately $18,380,000. Vanguard Group Inc. boosted its stake in Silgan Holdings by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,918,778 shares of the industrial products company’s stock valued at $232,618,000 after buying an additional 247,984 shares during the last quarter. Finally, First Quadrant L P CA boosted its stake in Silgan Holdings by 194.5% in the first quarter. First Quadrant L P CA now owns 216,381 shares of the industrial products company’s stock valued at $12,844,000 after buying an additional 142,908 shares during the last quarter. Hedge funds and other institutional investors own 36.00% of the company’s stock.
Silgan Holdings Inc. (NASDAQ SLGN) traded up 0.65% during mid-day trading on Tuesday, reaching $30.80. The company had a trading volume of 487,658 shares. The stock has a 50-day moving average of $31.53 and a 200 day moving average of $50.25. Silgan Holdings Inc. has a 12-month low of $27.98 and a 12-month high of $64.98. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 24.46 and a beta of 0.54.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $0.60 earnings per share. Silgan Holdings’s revenue was up 16.8% compared to the same quarter last year. On average, analysts expect that Silgan Holdings Inc. will post $1.66 EPS for the current year.
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Several equities research analysts have commented on the company. BidaskClub cut Silgan Holdings from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Bank of America Corporation lowered Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Thursday, July 27th. Robert W. Baird lowered Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) lowered Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price target on the stock. in a research report on Thursday, July 13th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 price target on shares of Silgan Holdings in a research report on Sunday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Silgan Holdings currently has a consensus rating of “Hold” and an average price target of $31.36.
In other news, VP B Frederik Prinzen sold 3,204 shares of Silgan Holdings stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $62.28, for a total transaction of $199,545.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Adam J. Greenlee sold 5,643 shares of Silgan Holdings stock in a transaction on Friday, May 19th. The stock was sold at an average price of $61.56, for a total transaction of $347,383.08. The disclosure for this sale can be found here. 33.10% of the stock is currently owned by insiders.
Silgan Holdings Company Profile
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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