Silgan Holdings Inc. (SLGN) Holdings Boosted by Alliancebernstein L.P.
Alliancebernstein L.P. grew its position in Silgan Holdings Inc. (NASDAQ:SLGN) by 87.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,106 shares of the industrial products company’s stock after purchasing an additional 22,960 shares during the quarter. Alliancebernstein L.P.’s holdings in Silgan Holdings were worth $1,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of SLGN. Bank of Montreal Can boosted its position 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 worth $124,000 after purchasing an additional 1,847 shares during the period. NN Investment Partners Holdings N.V. bought a new position in shares of Silgan Holdings in the second quarter worth approximately $127,000. Envestnet Asset Management Inc. boosted its position 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 worth $139,000 after purchasing an additional 207 shares during the period. Victory Capital Management Inc. bought a new position in shares of Silgan Holdings in the second quarter worth approximately $140,000. Finally, Pacad Investment Ltd. boosted its position in shares of Silgan Holdings by 15.6% in the second quarter. Pacad Investment Ltd. now owns 5,200 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 66.96% of the company’s stock.
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A number of research firms have weighed in on SLGN. Zacks Investment Research lowered shares of Silgan Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. KeyCorp restated a “hold” rating on shares of Silgan Holdings in a research report on Thursday, October 12th. Royal Bank Of Canada initiated coverage on shares of Silgan Holdings in a research report on Monday, October 9th. They set a “sector perform” rating and a $30.00 target price for the company. BMO Capital Markets restated a “buy” rating and set a $34.00 target price on shares of Silgan Holdings in a research report on Monday, September 18th. Finally, ValuEngine lowered shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Three 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 stock. The company has an average rating of “Hold” and an average price target of $32.00.
Shares of Silgan Holdings Inc. (SLGN) opened at 28.61 on Friday. The stock has a market cap of $3.16 billion, a P/E ratio of 22.72 and a beta of 0.53. The company’s 50-day moving average is $29.21 and its 200-day moving average is $30.45. Silgan Holdings Inc. has a 1-year low of $24.36 and a 1-year high of $32.50.
Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. Equities analysts expect that Silgan Holdings Inc. will post $1.65 EPS for the current fiscal year.
In related news, 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 value of $323,374.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Anthony P. Andreacchi sold 2,192 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $30.18, for a total transaction of $66,154.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,698 shares of company stock worth $597,429. Insiders own 33.10% of the company’s stock.
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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