Bank of America Corp DE Sells 240,438 Shares of Silgan Holdings Inc. (SLGN)
Bank of America Corp DE cut its position in Silgan Holdings Inc. (NASDAQ:SLGN) by 63.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,814 shares of the industrial products company’s stock after selling 240,438 shares during the period. Bank of America Corp DE owned approximately 0.25% of Silgan Holdings worth $8,062,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its position 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 valued at $139,000 after buying an additional 207 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of 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 stake in shares of 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 stake in shares of 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 acquired a new stake in shares of Silgan Holdings during the first quarter valued at about $201,000. 38.94% of the stock is currently owned by hedge funds and other institutional investors.
Silgan Holdings Inc. (SLGN) traded up 0.10% during mid-day trading on Friday, reaching $30.17. 920,547 shares of the company’s stock were exchanged. Silgan Holdings Inc. has a 12 month low of $27.98 and a 12 month high of $64.98. The stock has a 50-day moving average of $31.20 and a 200-day moving average of $48.32. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 23.96 and a beta of 0.54.
Silgan Holdings (NASDAQ:SLGN) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.35 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 the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $0.60 EPS. Silgan Holdings’s revenue for the quarter was up 16.8% on a year-over-year basis. Analysts anticipate that Silgan Holdings Inc. will post $1.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.19%. The ex-dividend date is Wednesday, August 30th. Silgan Holdings’s dividend payout ratio (DPR) is 29.03%.
Several research firms recently weighed in on SLGN. Zacks Investment Research cut shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Barclays PLC increased their target price on shares of Silgan Holdings from $27.50 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, May 1st. Deutsche Bank AG restated a “hold” rating and set a $30.00 price target (down previously from $60.00) on shares of Silgan Holdings in a research note on Monday, June 5th. Goldman Sachs Group, Inc. (The) cut shares of Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price target for the company. in a research note on Thursday, July 13th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $34.00 target price on shares of Silgan Holdings in a research note on Sunday, July 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.36.
In related news, insider Thomas James Snyder sold 10,506 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $30.78, for a total transaction of $323,374.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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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