Lord Abbett & CO. LLC purchased a new stake in Silgan Holdings Inc. (NASDAQ:SLGN) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 380,531 shares of the industrial products company’s stock, valued at approximately $12,093,000. Lord Abbett & CO. LLC owned 0.34% of Silgan Holdings at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in SLGN. Bank of Montreal Can grew its position in 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. NN Investment Partners Holdings N.V. acquired a new position in Silgan Holdings in the second quarter worth $127,000. Envestnet Asset Management Inc. boosted its stake in 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 in the last quarter. Victory Capital Management Inc. acquired a new position in Silgan Holdings in the second quarter worth $140,000. Finally, Pacad Investment Ltd. boosted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 65.87% of the company’s stock.
A number of equities analysts have commented on the company. KeyCorp reissued a “hold” rating on shares of Silgan Holdings in a research note on Sunday, October 29th. Robert W. Baird reissued a “hold” rating and issued a $32.00 price objective on shares of Silgan Holdings in a research note on Friday, October 27th. Zacks Investment Research lowered Silgan Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Royal Bank of Canada assumed coverage on Silgan Holdings in a research note on Monday, October 9th. They issued a “sector perform” rating and a $30.00 price objective on the stock. Finally, BMO Capital Markets reissued a “buy” rating and issued a $34.00 price objective on shares of Silgan Holdings in a research note on Monday, September 18th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $31.57.
Shares of Silgan Holdings Inc. (NASDAQ:SLGN) traded down $0.12 on Friday, hitting $28.61. The stock had a trading volume of 364,900 shares, compared to its average volume of 565,522. The company has a quick ratio of 0.25, a current ratio of 0.44 and a debt-to-equity ratio of 4.50. Silgan Holdings Inc. has a twelve month low of $24.36 and a twelve month high of $32.50. The firm has a market capitalization of $3,171.01, a price-to-earnings ratio of 18.42, a PEG ratio of 1.75 and a beta of 0.52.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). Silgan Holdings had a net margin of 3.77% and a return on equity of 32.87%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $0.61 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. equities analysts predict that Silgan Holdings Inc. will post 1.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, November 30th. Silgan Holdings’s dividend payout ratio (DPR) is presently 27.38%.
In other Silgan Holdings news, insider Thomas James Snyder sold 10,506 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $30.78, for a total value of $323,374.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Anthony P. Andreacchi sold 2,192 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $30.18, for a total value of $66,154.56. The disclosure for this sale can be found here. Insiders have sold 19,698 shares of company stock worth $597,429 in the last ninety days. 33.10% of the stock is currently owned by insiders.
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Silgan Holdings 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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