GW&K Investment Management LLC raised its position in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,145,891 shares of the industrial products company’s stock after acquiring an additional 87,379 shares during the period. GW&K Investment Management LLC owned approximately 1.03% of Silgan worth $34,417,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. LPL Financial LLC boosted its holdings in Silgan by 2.0% during the second quarter. LPL Financial LLC now owns 17,714 shares of the industrial products company’s stock valued at $542,000 after acquiring an additional 346 shares during the period. Dupont Capital Management Corp raised its position in shares of Silgan by 10.2% during the third quarter. Dupont Capital Management Corp now owns 4,557 shares of the industrial products company’s stock valued at $137,000 after buying an additional 423 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Silgan by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 31,113 shares of the industrial products company’s stock valued at $952,000 after buying an additional 442 shares during the last quarter. Assetmark Inc. raised its position in shares of Silgan by 10.0% during the second quarter. Assetmark Inc. now owns 5,024 shares of the industrial products company’s stock valued at $154,000 after buying an additional 457 shares during the last quarter. Finally, Huntington National Bank raised its position in shares of Silgan by 31.2% during the third quarter. Huntington National Bank now owns 2,258 shares of the industrial products company’s stock valued at $68,000 after buying an additional 537 shares during the last quarter. Institutional investors own 66.03% of the company’s stock.
Shares of SLGN traded up $0.09 during trading hours on Friday, reaching $30.99. 417,900 shares of the company traded hands, compared to its average volume of 463,886. Silgan Holdings Inc. has a 1-year low of $22.24 and a 1-year high of $31.69. The stock has a market cap of $3.37 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.84 and a beta of 0.76. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.27 and a current ratio of 0.48. The stock’s fifty day moving average is $30.20 and its 200 day moving average is $30.09.
Silgan (NASDAQ:SLGN) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76. Silgan had a net margin of 4.37% and a return on equity of 26.05%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm earned $0.76 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts predict that Silgan Holdings Inc. will post 2.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 1.42%. Silgan’s payout ratio is presently 21.15%.
SLGN has been the subject of a number of research analyst reports. ValuEngine lowered shares of Silgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. BidaskClub raised shares of Silgan from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $31.00 to $33.00 in a research report on Wednesday, July 17th. Finally, Zacks Investment Research lowered shares of Silgan from a “hold” rating to a “sell” rating and set a $32.00 price objective for the company. in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $33.67.
In other Silgan news, Director John W. Alden sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $29.71, for a total value of $59,420.00. Following the transaction, the director now directly owns 67,331 shares of the company’s stock, valued at $2,000,404.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 30.32% of the stock is currently 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 pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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