Silgan Holdings Inc. (NASDAQ:SLGN) CFO Robert B. Lewis sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 30th. The stock was 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 $9,497,783.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
NASDAQ:SLGN opened at $24.40 on Friday. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.28 and a current ratio of 0.47. Silgan Holdings Inc. has a 52 week low of $23.14 and a 52 week high of $31.05. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.15 and a beta of 0.68.
Silgan (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. Silgan had a return on equity of 26.91% and a net margin of 7.59%. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. As a group, analysts anticipate that Silgan Holdings Inc. will post 2.05 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in SLGN. Royal Bank of Canada lifted its stake in Silgan by 8.2% during the first quarter. Royal Bank of Canada now owns 521,276 shares of the industrial products company’s stock worth $14,517,000 after purchasing an additional 39,696 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in Silgan by 54.6% during the first quarter. Xact Kapitalforvaltning AB now owns 11,888 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 4,200 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Silgan by 4.1% during the first quarter. Principal Financial Group Inc. now owns 328,477 shares of the industrial products company’s stock worth $9,148,000 after purchasing an additional 12,971 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Silgan during the first quarter worth $283,000. Finally, Brown Advisory Inc. lifted its stake in Silgan by 18.4% during the first quarter. Brown Advisory Inc. now owns 56,996 shares of the industrial products company’s stock worth $1,587,000 after purchasing an additional 8,844 shares in the last quarter. Institutional investors own 67.02% of the company’s stock.
Several brokerages recently weighed in on SLGN. BidaskClub upgraded Silgan from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. ValuEngine upgraded Silgan from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research lowered Silgan from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Barclays lowered their price objective on Silgan from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, October 29th. Finally, KeyCorp reiterated a “hold” rating on shares of Silgan in a research report on Wednesday, October 24th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $29.33.
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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