Schwab Charles Investment Management Inc. Has $25.78 Million Position in Silgan Holdings Inc. (SLGN)
Schwab Charles Investment Management Inc. increased its position in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 212.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 811,183 shares of the industrial products company’s stock after purchasing an additional 551,311 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.74% of Silgan Holdings worth $25,780,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in Silgan Holdings by 9.8% during the first quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 207 shares in the last quarter. Pacer Advisors Inc. increased its holdings 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 holdings 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 holdings 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 in the first quarter valued at about $201,000. 67.00% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Anthony P. Andreacchi sold 2,192 shares of Silgan Holdings stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $30.18, for a total transaction of $66,154.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert B. Lewis sold 7,000 shares of Silgan Holdings stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $29.70, for a total transaction of $207,900.00. The disclosure for this sale can be found here. Insiders sold a total of 19,698 shares of company stock worth $597,429 in the last ninety days. Insiders own 33.10% of the company’s stock.
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Silgan Holdings Inc. (SLGN) opened at 29.53 on Friday. Silgan Holdings Inc. has a 1-year low of $23.58 and a 1-year high of $32.50. The firm’s 50-day moving average is $30.05 and its 200-day moving average is $30.60. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 23.46 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The company’s revenue was up 16.8% on a year-over-year basis. On average, equities analysts anticipate that Silgan Holdings Inc. will post $1.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Wednesday, August 30th. Silgan Holdings’s dividend payout ratio (DPR) is presently 29.03%.
A number of research analysts have recently weighed in on the stock. KeyCorp reissued a “hold” rating on shares of Silgan Holdings in a research note on Friday, August 25th. ValuEngine upgraded shares of Silgan Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 31st. BidaskClub lowered shares of Silgan Holdings from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Deutsche Bank AG reiterated a “hold” rating and issued a $30.00 price target (down previously from $60.00) on shares of Silgan Holdings in a report on Monday, June 5th. Finally, Zacks Investment Research lowered shares of Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.33.
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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