Cornerstone Capital Management Holdings LLC. grew its position in Silgan Holdings Inc. (NASDAQ:SLGN) by 811.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 319,426 shares of the industrial products company’s stock after acquiring an additional 284,398 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.29% of Silgan Holdings worth $10,151,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings 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 valued at $139,000 after acquiring an additional 207 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of 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 acquiring an additional 27 shares during the period. US Bancorp DE boosted its holdings in shares of 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 acquiring an additional 101 shares during the period. KCG Holdings Inc. acquired a new stake in shares of Silgan Holdings in the first quarter valued at approximately $207,000. Finally, Bank of Montreal Can boosted its holdings 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 valued at $124,000 after acquiring an additional 1,847 shares during the period. 67.00% of the stock is owned by institutional investors and hedge funds.
In other Silgan Holdings news, VP Anthony P. Andreacchi sold 2,192 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $30.18, for a total transaction of $66,154.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas James Snyder sold 10,506 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $30.78, for a total value of $323,374.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,698 shares of company stock valued at $597,429. 33.10% of the stock is owned by company insiders.
SLGN has been the subject of several research analyst reports. BidaskClub downgraded Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. BMO Capital Markets reissued a “buy” rating and issued a $34.00 price objective on shares of Silgan Holdings in a report on Sunday, July 9th. Goldman Sachs Group, Inc. (The) downgraded Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price objective for the company. in a report on Thursday, July 13th. Robert W. Baird downgraded Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price objective for the company. in a report on Wednesday, July 19th. Finally, Bank of America Corporation downgraded Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Silgan Holdings presently has a consensus rating of “Hold” and an average target price of $32.33.
Shares of Silgan Holdings Inc. (NASDAQ:SLGN) traded down 0.24% during midday trading on Monday, hitting $29.34. The company had a trading volume of 13,443 shares. The stock’s 50-day moving average price is $29.48 and its 200-day moving average price is $30.52. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 23.30 and a beta of 0.53. Silgan Holdings Inc. has a 12 month low of $23.58 and a 12 month high of $32.50.
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 the Zacks’ consensus estimate of $0.35. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 EPS. On average, equities research analysts forecast that Silgan Holdings Inc. will post $1.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.36 dividend on an annualized basis and a yield of 1.22%. Silgan Holdings’s payout ratio is currently 29.03%.
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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