Neuburgh Advisers LLC reduced its stake in Silgan Holdings Inc. (NASDAQ:SLGN) by 38.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,904 shares of the industrial products company’s stock after selling 4,928 shares during the quarter. Neuburgh Advisers LLC’s holdings in Silgan were worth $242,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of SLGN. C M Bidwell & Associates Ltd. bought a new stake in Silgan in the 2nd quarter valued at $40,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Silgan in the 2nd quarter valued at $51,000. Huntington National Bank acquired a new stake in Silgan in the 2nd quarter valued at $53,000. BNP Paribas Arbitrage SA increased its stake in Silgan by 283.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,909 shares of the industrial products company’s stock valued at $145,000 after buying an additional 3,629 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Silgan in the 2nd quarter valued at $165,000. 65.78% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on SLGN shares. ValuEngine lowered shares of Silgan from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $31.00 to $33.00 in a research note on Wednesday, July 17th. Citigroup lifted their price target on shares of Silgan from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, BidaskClub lowered shares of Silgan from a “hold” rating to a “sell” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Silgan has an average rating of “Hold” and an average price target of $30.63.
Shares of Silgan stock traded up $0.14 during trading on Thursday, hitting $30.31. 6,063 shares of the stock were exchanged, compared to its average volume of 480,312. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 1.76 and a beta of 0.79. The company has a fifty day moving average price of $30.05 and a 200-day moving average price of $29.84. Silgan Holdings Inc. has a 1-year low of $22.24 and a 1-year high of $31.69. The company has a current ratio of 0.98, a quick ratio of 0.49 and a debt-to-equity ratio of 1.96.
Silgan (NASDAQ:SLGN) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. Silgan had a net margin of 4.46% and a return on equity of 26.45%. Silgan’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. Equities research analysts forecast that Silgan Holdings Inc. will post 2.2 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.44 annualized dividend and a dividend yield of 1.45%. Silgan’s dividend payout ratio is presently 21.15%.
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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