Silgan Holdings Inc. (NASDAQ:SLGN) Director D Greg Horrigan sold 355,934 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $28.01, for a total value of $9,969,711.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Silgan Holdings Inc. (SLGN) traded up $0.17 during midday trading on Wednesday, reaching $28.14. The company had a trading volume of 438,886 shares, compared to its average volume of 687,635. Silgan Holdings Inc. has a fifty-two week low of $27.21 and a fifty-two week high of $32.50. The firm has a market capitalization of $3,089.34, a PE ratio of 17.07, a P/E/G ratio of 1.34 and a beta of 0.49. The company has a quick ratio of 0.17, a current ratio of 0.38 and a debt-to-equity ratio of 3.96.
Silgan (NASDAQ:SLGN) last released its earnings results on Tuesday, January 30th. The industrial products company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Silgan had a return on equity of 30.15% and a net margin of 6.59%. The business had revenue of $995.70 million during the quarter, compared to analysts’ expectations of $970.24 million. During the same quarter last year, the firm posted $0.48 earnings per share. The firm’s revenue was up 23.6% on a year-over-year basis. sell-side analysts predict that Silgan Holdings Inc. will post 2.09 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. grew its stake in Silgan by 162.3% during the fourth quarter. Assetmark Inc. now owns 4,320 shares of the industrial products company’s stock worth $127,000 after purchasing an additional 2,673 shares during the period. State of Alaska Department of Revenue acquired a new stake in Silgan during the fourth quarter worth approximately $158,000. Cubist Systematic Strategies LLC acquired a new stake in Silgan during the third quarter worth approximately $167,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Silgan during the fourth quarter worth approximately $199,000. Finally, Breton Hill Capital Ltd. acquired a new stake in Silgan during the third quarter worth approximately $218,000. 66.83% of the stock is owned by institutional investors and hedge funds.
SLGN has been the subject of several recent research reports. Vertical Research raised Silgan from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Zacks Investment Research raised Silgan from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Tuesday, December 26th. BMO Capital Markets reissued a “buy” rating and issued a $34.00 price target on shares of Silgan in a research note on Monday, November 20th. JPMorgan Chase & Co. cut Silgan from a “neutral” rating to an “underweight” rating and set a $30.00 price target for the company. in a research note on Wednesday, January 17th. Finally, Bank of America cut Silgan from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 2nd. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $31.20.
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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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