Highbridge Capital Management LLC purchased a new stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 57,107 shares of the industrial products company’s stock, valued at approximately $3,391,000. Highbridge Capital Management LLC owned approximately 0.10% of Silgan Holdings at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. State Board of Administration of Florida Retirement System boosted its stake in Silgan Holdings by 3.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 54,409 shares of the industrial products company’s stock valued at $2,785,000 after buying an additional 1,762 shares in the last quarter. Comerica Bank boosted its position in shares of Silgan Holdings by 30.5% in the fourth quarter. Comerica Bank now owns 85,616 shares of the industrial products company’s stock valued at $4,698,000 after buying an additional 20,012 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Silgan Holdings by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 730,905 shares of the industrial products company’s stock valued at $37,408,000 after buying an additional 22,524 shares in the last quarter. Martingale Asset Management L P purchased a new position in shares of Silgan Holdings during the fourth quarter valued at about $850,000. Finally, FMR LLC boosted its position in shares of Silgan Holdings by 9.2% in the fourth quarter. FMR LLC now owns 6,889,466 shares of the industrial products company’s stock valued at $352,602,000 after buying an additional 582,820 shares in the last quarter. 33.30% of the stock is owned by institutional investors and hedge funds.
Silgan Holdings Inc. (SLGN) traded up 2.12% on Wednesday, hitting $32.34. The company had a trading volume of 56,894 shares. Silgan Holdings Inc. has a 12-month low of $23.58 and a 12-month high of $32.50. The firm’s 50 day moving average price is $42.17 and its 200 day moving average price is $53.91. The stock has a market cap of $3.57 billion, a P/E ratio of 25.38 and a beta of 0.55.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $805.40 million for the quarter, compared to the consensus estimate of $795.58 million. Silgan Holdings had a return on equity of 28.84% and a net margin of 4.14%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. Equities analysts predict that Silgan Holdings Inc. will post $1.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were issued a $0.09 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.14%. Silgan Holdings’s dividend payout ratio (DPR) is 28.46%.
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A number of equities analysts have recently weighed in on the company. BMO Capital Markets reissued a “buy” rating and issued a $34.00 price target on shares of Silgan Holdings in a report on Sunday. Zacks Investment Research cut Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. BidaskClub cut Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $30.00 price objective (down previously from $60.00) on shares of Silgan Holdings in a research report on Monday, June 5th. Finally, ValuEngine raised Silgan Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 31st. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.30.
In other news, VP Adam J. Greenlee sold 5,643 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $61.56, for a total value of $347,383.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP B Frederik Prinzen sold 3,204 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $62.28, for a total value of $199,545.12. The disclosure for this sale can be found here. 33.10% of the stock is owned by insiders.
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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