Allianz Asset Management GmbH Lowers Holdings in Silgan Holdings Inc. (SLGN)

Allianz Asset Management GmbH reduced its holdings in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 4.3% during the 3rd quarter, Holdings Channel reports. The firm owned 1,081,114 shares of the industrial products company’s stock after selling 48,670 shares during the period. Allianz Asset Management GmbH’s holdings in Silgan were worth $30,055,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SLGN. Walthausen & Co. LLC purchased a new position in Silgan during the 3rd quarter worth $12,179,000. WINTON GROUP Ltd purchased a new position in Silgan during the 3rd quarter worth $10,035,000. FMR LLC grew its position in Silgan by 2.6% during the 2nd quarter. FMR LLC now owns 13,207,468 shares of the industrial products company’s stock worth $354,357,000 after purchasing an additional 330,350 shares during the last quarter. BlackRock Inc. grew its position in Silgan by 4.2% during the 3rd quarter. BlackRock Inc. now owns 6,814,304 shares of the industrial products company’s stock worth $189,436,000 after purchasing an additional 276,073 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Silgan by 102.5% during the 3rd quarter. First Trust Advisors LP now owns 492,448 shares of the industrial products company’s stock worth $13,690,000 after purchasing an additional 249,275 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors.

SLGN stock opened at $25.90 on Tuesday. The stock has a market cap of $2.85 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.21 and a beta of 0.69. Silgan Holdings Inc. has a 52 week low of $23.14 and a 52 week high of $31.05. The company has a current ratio of 1.17, a quick ratio of 0.70 and a debt-to-equity ratio of 2.40.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Friday, November 30th. Silgan’s dividend payout ratio is currently 24.24%.

Several brokerages have issued reports on SLGN. BidaskClub downgraded shares of Silgan from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 30th. Barclays lowered their price objective on shares of Silgan from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, October 29th. ValuEngine downgraded shares of Silgan from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. TheStreet downgraded shares of Silgan from a “b-” rating to a “c+” rating in a report on Wednesday, November 14th. Finally, Royal Bank of Canada lowered their target price on shares of Silgan to $25.00 and set a “sector perform” rating on the stock in a report on Monday, October 29th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Silgan has an average rating of “Hold” and an average target price of $29.33.

In other Silgan news, CFO Robert B. Lewis sold 25,000 shares of Silgan stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $24.83, for a total transaction of $620,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert B. Lewis sold 18,700 shares of Silgan stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $25.18, for a total transaction of $470,866.00. Following the transaction, the vice president now owns 361,723 shares of the company’s stock, valued at approximately $9,108,185.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,040 shares of company stock worth $1,851,055. 30.32% of the stock is owned by insiders.

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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 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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