Silgan Holdings Inc. (SLGN) Shares Bought by New York State Common Retirement Fund
New York State Common Retirement Fund boosted its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 96.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 174,271 shares of the industrial products company’s stock after acquiring an additional 85,400 shares during the period. New York State Common Retirement Fund owned about 0.16% of Silgan Holdings worth $5,538,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of SLGN. US Bancorp DE raised its position in Silgan Holdings by 3.1% during the first quarter. US Bancorp DE now owns 3,381 shares of the industrial products company’s stock worth $200,000 after acquiring an additional 101 shares during the period. UBS Asset Management Americas Inc. raised its position in Silgan Holdings by 13.1% during the first quarter. UBS Asset Management Americas Inc. now owns 32,343 shares of the industrial products company’s stock worth $1,920,000 after acquiring an additional 3,752 shares during the period. Karp Capital Management Corp acquired a new position in Silgan Holdings during the first quarter worth $529,000. Ameriprise Financial Inc. raised its position in Silgan Holdings by 21.0% during the first quarter. Ameriprise Financial Inc. now owns 121,249 shares of the industrial products company’s stock worth $7,198,000 after acquiring an additional 21,038 shares during the period. Finally, Envestnet Asset Management Inc. raised its position 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 acquiring an additional 207 shares during the period. Institutional investors own 67.00% of the company’s stock.
Shares of Silgan Holdings Inc. (SLGN) opened at 28.54 on Friday. The firm has a market capitalization of $3.15 billion, a PE ratio of 22.67 and a beta of 0.53. Silgan Holdings Inc. has a 12 month low of $24.36 and a 12 month high of $32.50. The stock has a 50 day moving average of $29.34 and a 200-day moving average of $30.49.
Silgan Holdings (NASDAQ:SLGN) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities research analysts anticipate that Silgan Holdings Inc. will post $1.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.26%. The ex-dividend date was Wednesday, August 30th. Silgan Holdings’s payout ratio is 29.03%.
A number of equities analysts have weighed in on the stock. Goldman Sachs Group, Inc. (The) cut shares of Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price objective for the company. in a research report on Thursday, July 13th. BMO Capital Markets restated a “buy” rating and set a $34.00 price objective on shares of Silgan Holdings in a research report on Sunday, July 9th. Robert W. Baird cut shares of Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Wednesday, July 19th. BidaskClub cut shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Bank of America Corporation cut shares of Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $32.00.
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In related news, VP Robert B. Lewis sold 7,000 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas James Snyder sold 10,506 shares of the business’s 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 disclosure for this sale can be found here. Insiders sold a total of 19,698 shares of company stock valued at $597,429 in the last three months. 33.10% of the stock is currently owned by corporate insiders.
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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