Wells Fargo & Company MN lifted its holdings in Silgan Holdings Inc. (NASDAQ:SLGN) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,697,626 shares of the industrial products company’s stock after buying an additional 89,613 shares during the quarter. Wells Fargo & Company MN owned approximately 1.54% of Silgan worth $49,961,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of 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 buying an additional 543 shares during the period. Pacad Investment Ltd. raised its holdings in shares of 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 buying an additional 700 shares during the period. Profund Advisors LLC raised its holdings in shares of Silgan by 20.5% in the second quarter. Profund Advisors LLC now owns 7,888 shares of the industrial products company’s stock worth $251,000 after buying an additional 1,340 shares during the period. Legal & General Group Plc raised its holdings in shares of Silgan by 2.0% in the third quarter. Legal & General Group Plc now owns 91,012 shares of the industrial products company’s stock worth $2,678,000 after buying an additional 1,754 shares during the period. Finally, Bank of Montreal Can raised its holdings in shares of 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 buying an additional 1,847 shares during the period. Hedge funds and other institutional investors own 67.69% of the company’s stock.
In related news, Director William C. Jennings sold 25,642 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $28.38, for a total value of $727,719.96. Following the transaction, the director now owns 42,180 shares of the company’s stock, valued at $1,197,068.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 33.10% of the stock is owned by corporate insiders.
SLGN has been the topic of several recent analyst reports. KeyCorp reiterated a “hold” rating on shares of Silgan in a report on Sunday, October 29th. Robert W. Baird reiterated a “hold” rating and issued a $32.00 price target on shares of Silgan in a report on Friday, October 27th. BMO Capital Markets reiterated a “buy” rating and issued a $34.00 price target on shares of Silgan in a report on Monday, September 18th. Royal Bank Of Canada initiated coverage on Silgan in a report on Monday, October 9th. They issued a “sector perform” rating and a $30.00 price target on the stock. Finally, Zacks Investment Research downgraded Silgan from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Silgan currently has an average rating of “Hold” and an average price target of $30.75.
Silgan Holdings Inc. (NASDAQ SLGN) opened at $28.65 on Friday. Silgan Holdings Inc. has a 52 week low of $25.16 and a 52 week high of $32.50. The stock has a market capitalization of $3,199.71, a P/E ratio of 18.58, a P/E/G ratio of 1.77 and a beta of 0.52. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 3.96.
Silgan (NASDAQ:SLGN) last announced its quarterly earnings data 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 had a return on equity of 32.87% and a net margin of 3.77%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. analysts expect that Silgan Holdings Inc. will post 1.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.09 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.36 annualized dividend and a yield of 1.26%. Silgan’s dividend payout ratio (DPR) 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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