California State Teachers Retirement System raised its stake in Silgan Holdings Inc. (NASDAQ:SLGN) by 79.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,157 shares of the industrial products company’s stock after acquiring an additional 58,543 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Silgan Holdings worth $4,200,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Silgan Holdings by 98.3% in the second quarter. FMR LLC now owns 13,086,272 shares of the industrial products company’s stock valued at $415,881,000 after purchasing an additional 6,485,884 shares during the period. JPMorgan Chase & Co. boosted its position in Silgan Holdings by 102.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,792,959 shares of the industrial products company’s stock valued at $247,661,000 after buying an additional 3,939,145 shares during the period. Vanguard Group Inc. lifted its position in shares of Silgan Holdings by 92.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,542,961 shares of the industrial products company’s stock worth $239,715,000 after purchasing an additional 3,624,183 shares during the period. BlackRock Inc. increased its stake in Silgan Holdings by 107.4% during the 2nd quarter. BlackRock Inc. now owns 6,637,734 shares of the industrial products company’s stock valued at $210,947,000 after purchasing an additional 3,437,477 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Silgan Holdings by 107.8% during the 2nd quarter. State Street Corp now owns 2,006,227 shares of the industrial products company’s stock valued at $63,762,000 after acquiring an additional 1,040,766 shares during the last quarter. Hedge funds and other institutional investors own 66.53% of the company’s stock.
In related news, VP Anthony P. Andreacchi sold 2,192 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $30.18, for a total value of $66,154.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas James Snyder sold 10,506 shares of Silgan Holdings stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $30.78, for a total transaction of $323,374.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,698 shares of company stock valued at $597,429. Corporate insiders own 33.10% of the company’s stock.
SLGN has been the topic of several analyst reports. Robert W. Baird reaffirmed a “hold” rating and set a $32.00 price target on shares of Silgan Holdings in a report on Friday, October 27th. KeyCorp reiterated a “hold” rating on shares of Silgan Holdings in a research report on Sunday, October 29th. BidaskClub upgraded shares of Silgan Holdings from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Zacks Investment Research cut shares of Silgan Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, ValuEngine downgraded shares of Silgan Holdings from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $31.57.
Silgan Holdings Inc. (SLGN) opened at $29.16 on Friday. The company has a debt-to-equity ratio of 4.50, a current ratio of 0.44 and a quick ratio of 0.25. The firm has a market capitalization of $3,209.08, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.78 and a beta of 0.52.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.03). Silgan Holdings had a return on equity of 32.87% and a net margin of 3.77%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the company earned $0.61 EPS. Silgan Holdings’s quarterly revenue was up 11.2% on a year-over-year basis. research analysts predict that Silgan Holdings Inc. will post 1.64 earnings per share for the current fiscal year.
Silgan Holdings Company Profile
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.
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