Silgan Holdings Inc. (SLGN) VP Sells $207,900.00 in Stock
Silgan Holdings Inc. (NASDAQ:SLGN) VP Robert B. Lewis sold 7,000 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $29.70, for a total value of $207,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Silgan Holdings Inc. (NASDAQ:SLGN) opened at 29.57 on Friday. The firm has a 50 day moving average price of $30.92 and a 200 day moving average price of $47.24. Silgan Holdings Inc. has a one year low of $23.58 and a one year high of $32.50. The company has a market capitalization of $3.26 billion, a P/E ratio of 23.49 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 EPS for the quarter, hitting 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 business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business posted $0.60 earnings per share. Silgan Holdings’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts predict that Silgan Holdings Inc. will post $1.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.09 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.36 annualized dividend and a yield of 1.22%. Silgan Holdings’s dividend payout ratio (DPR) is presently 29.03%.
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A number of hedge funds have recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of Silgan Holdings by 89.3% in the second quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock valued at $124,000 after buying an additional 1,847 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in shares of Silgan Holdings during the second quarter valued at approximately $127,000. Envestnet Asset Management Inc. raised its stake in shares of 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 period. Victory Capital Management Inc. bought a new stake in shares of Silgan Holdings during the second quarter valued at approximately $140,000. Finally, Pacer Advisors Inc. raised 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 during the period. Institutional investors and hedge funds own 38.94% of the company’s stock.
Several equities analysts have weighed in on the company. Goldman Sachs Group, Inc. (The) lowered Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 target price on the stock. in a research note on Thursday, July 13th. BMO Capital Markets reissued a “buy” rating and issued a $34.00 target price on shares of Silgan Holdings in a research note on Sunday, July 9th. Robert W. Baird lowered Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research note on Wednesday, July 19th. Zacks Investment Research downgraded Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, BidaskClub downgraded Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $31.36.
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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