Silgan Holdings Inc. (SLGN) Stake Raised by Legal & General Group Plc
Legal & General Group Plc grew its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,012 shares of the industrial products company’s stock after buying an additional 1,754 shares during the period. Legal & General Group Plc owned 0.08% of Silgan worth $2,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in SLGN. Bank of Montreal Can increased its position in Silgan 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 last quarter. Victory Capital Management Inc. bought a new stake in Silgan in the second quarter worth $140,000. Pacad Investment Ltd. increased its position in Silgan 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 last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Silgan by 8.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,994 shares of the industrial products company’s stock worth $360,000 after purchasing an additional 543 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Silgan in the second quarter worth $229,000. Hedge funds and other institutional investors own 66.62% of the company’s stock.
Several research analysts have commented on the stock. Royal Bank of Canada assumed coverage on shares of Silgan in a research note on Monday, October 9th. They set a “sector perform” rating and a $30.00 price objective for the company. ValuEngine lowered shares of Silgan from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Silgan from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 price objective on shares of Silgan in a research note on Monday, November 20th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $32.00 price objective on shares of Silgan in a research note on Friday, October 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Silgan has an average rating of “Hold” and a consensus price target of $31.00.
Shares of Silgan Holdings Inc. (NASDAQ SLGN) opened at $29.17 on Wednesday. The stock has a market cap of $3,226.20, a price-to-earnings ratio of 22.18, a PEG ratio of 1.78 and a beta of 0.52. Silgan Holdings Inc. has a one year low of $25.50 and a one year high of $32.50. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.73 and a current ratio of 1.26.
Silgan (NASDAQ:SLGN) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.03). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Silgan had a net margin of 3.77% and a return on equity of 32.87%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. sell-side analysts predict that Silgan Holdings Inc. will post 1.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, November 30th. Silgan’s dividend payout ratio is currently 27.38%.
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Silgan 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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