Silgan Holdings Inc. (NASDAQ:SLGN) posted its quarterly earnings results on Wednesday. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35, Morningstar.com reports. Silgan Holdings had a net margin of 4.14% and a return on equity of 28.84%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. Silgan Holdings updated its Q3 guidance to $0.64-0.71 EPS and its FY17 guidance to $1.60-1.70 EPS.

Shares of Silgan Holdings (NASDAQ:SLGN) traded down 1.16% during midday trading on Wednesday, hitting $31.53. 89,873 shares of the stock were exchanged. Silgan Holdings has a 1-year low of $23.58 and a 1-year high of $32.50. The firm has a 50-day moving average of $31.73 and a 200-day moving average of $51.65. The company has a market capitalization of $3.48 billion, a P/E ratio of 24.75 and a beta of 0.55.

SLGN has been the subject of a number of research reports. BMO Capital Markets reissued a “buy” rating and issued a $34.00 price target on shares of Silgan Holdings in a research note on Sunday, July 9th. Barclays PLC boosted their price target on shares of Silgan Holdings from $27.50 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, May 1st. Zacks Investment Research cut shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. BidaskClub cut shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $30.00 price target (down previously from $60.00) on shares of Silgan Holdings in a research note on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $30.21.

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In other news, VP Adam J. Greenlee sold 5,643 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $61.56, for a total transaction of $347,383.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP B Frederik Prinzen sold 3,204 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $62.28, for a total transaction of $199,545.12. The disclosure for this sale can be found here. Corporate insiders own 33.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Silgan Holdings by 12,224.8% in the first quarter. BlackRock Inc. now owns 3,200,257 shares of the industrial products company’s stock valued at $189,966,000 after buying an additional 3,174,291 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Silgan Holdings by 96.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,164,656 shares of the industrial products company’s stock valued at $37,013,000 after buying an additional 571,928 shares during the period. American Century Companies Inc. bought a new position in Silgan Holdings during the first quarter valued at about $33,329,000. Russell Investments Group Ltd. increased its position in Silgan Holdings by 101.5% in the second quarter. Russell Investments Group Ltd. now owns 1,027,745 shares of the industrial products company’s stock valued at $32,661,000 after buying an additional 517,697 shares during the period. Finally, GW&K Investment Management LLC increased its position in Silgan Holdings by 94.0% in the second quarter. GW&K Investment Management LLC now owns 770,116 shares of the industrial products company’s stock valued at $24,474,000 after buying an additional 373,086 shares during the period. Hedge funds and other institutional investors own 34.07% of the company’s stock.

About Silgan Holdings

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.

Earnings History for Silgan Holdings (NASDAQ:SLGN)

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