Northwestern Mutual Investment Management Company LLC raised its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 56.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 15,133 shares of the industrial products company’s stock after purchasing an additional 5,448 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Silgan were worth $421,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in SLGN. Assetmark Inc. grew its holdings in Silgan by 162.3% during the fourth quarter. Assetmark Inc. now owns 4,320 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 2,673 shares during the period. Amundi Pioneer Asset Management Inc. bought a new stake in Silgan during the fourth quarter valued at about $199,000. Xact Kapitalforvaltning AB bought a new stake in Silgan during the fourth quarter valued at about $226,000. Jane Street Group LLC bought a new stake in Silgan during the fourth quarter valued at about $278,000. Finally, PEAK6 Investments L.P. bought a new stake in Silgan during the fourth quarter valued at about $297,000. 66.87% of the stock is owned by institutional investors and hedge funds.
NASDAQ SLGN opened at $26.85 on Wednesday. The stock has a market capitalization of $2.93 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.07 and a quick ratio of 0.57. Silgan Holdings Inc. has a twelve month low of $26.26 and a twelve month high of $32.43.
Silgan (NASDAQ:SLGN) last posted its earnings results on Wednesday, April 25th. The industrial products company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $981.34 million. Silgan had a return on equity of 28.31% and a net margin of 6.80%. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. equities research analysts predict that Silgan Holdings Inc. will post 2.1 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were given a $0.10 dividend. The ex-dividend date was Thursday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.49%. Silgan’s dividend payout ratio is currently 24.24%.
SLGN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Silgan from $31.00 to $32.00 and gave the stock an “underweight” rating in a research note on Thursday, April 26th. KeyCorp set a $25.00 price objective on Silgan and gave the stock a “sell” rating in a research note on Wednesday, April 25th. Zacks Investment Research lowered Silgan from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. Citigroup dropped their price objective on Silgan from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, April 5th. Finally, ValuEngine lowered Silgan from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Six research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $30.92.
In related news, COO Adam J. Greenlee sold 10,864 shares of the business’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $27.71, for a total value of $301,041.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Anthony P. Andreacchi sold 1,600 shares of the business’s stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $28.08, for a total value of $44,928.00. The disclosure for this sale can be found here. Insiders sold 28,295 shares of company stock worth $780,450 over the last quarter. 30.32% of the stock is owned by company insiders.
Silgan Company Profile
Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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