Russell Investments Group Ltd. Grows Stake in Silgan Holdings Inc. (SLGN)

Russell Investments Group Ltd. lifted its position in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,107,361 shares of the industrial products company’s stock after buying an additional 27,083 shares during the quarter. Russell Investments Group Ltd.’s holdings in Silgan were worth $30,783,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in shares of Silgan during the 2nd quarter worth $208,000. State of Alaska Department of Revenue raised its stake in shares of Silgan by 169.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 8,534 shares of the industrial products company’s stock worth $236,000 after buying an additional 5,368 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Silgan during the 1st quarter worth $283,000. BNP Paribas Arbitrage SA raised its stake in shares of Silgan by 118.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,379 shares of the industrial products company’s stock worth $305,000 after buying an additional 6,177 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Silgan by 54.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 11,888 shares of the industrial products company’s stock worth $331,000 after buying an additional 4,200 shares during the last quarter. 67.02% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Robert B. Lewis sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $23.86, for a total value of $238,600.00. Following the completion of the transaction, the chief financial officer now owns 398,063 shares of the company’s stock, valued at approximately $9,497,783.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William T. Donovan bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was purchased at an average cost of $23.75 per share, with a total value of $118,750.00. Following the purchase, the director now directly owns 8,235 shares in the company, valued at approximately $195,581.25. The disclosure for this purchase can be found here. Insiders sold a total of 32,843 shares of company stock valued at $813,577 in the last three months. 30.32% of the stock is currently owned by corporate insiders.

Several research analysts have recently issued reports on the company. ValuEngine downgraded Silgan from a “sell” rating to a “strong sell” rating in a research note on Thursday. Barclays cut their price target on Silgan from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, October 29th. Royal Bank of Canada cut their price target on Silgan to $25.00 and set a “sector perform” rating for the company in a research note on Monday, October 29th. Robert W. Baird cut their price target on Silgan from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th. Finally, BMO Capital Markets cut their price target on Silgan from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $29.33.

Shares of SLGN stock opened at $24.40 on Friday. Silgan Holdings Inc. has a twelve month low of $23.14 and a twelve month high of $31.05. The stock has a market capitalization of $2.66 billion, a P/E ratio of 11.90, a PEG ratio of 1.13 and a beta of 0.69. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.47 and a quick ratio of 0.28.

Silgan (NASDAQ:SLGN) last announced its earnings results on Wednesday, October 24th. The industrial products company reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. Silgan had a net margin of 7.59% and a return on equity of 26.91%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company posted $0.66 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts expect that Silgan Holdings Inc. will post 2.05 EPS for the current year.

Silgan 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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Institutional Ownership by Quarter for Silgan (NASDAQ:SLGN)

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