Sei Investments Co. Decreases Stake in Silgan Holdings Inc. (NASDAQ:SLGN)

Sei Investments Co. lowered its stake in Silgan Holdings Inc. (NASDAQ:SLGN) by 35.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 344,690 shares of the industrial products company’s stock after selling 189,754 shares during the period. Sei Investments Co.’s holdings in Silgan were worth $10,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in shares of Silgan by 4,705.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,275,650 shares of the industrial products company’s stock worth $70,227,000 after acquiring an additional 2,228,294 shares during the period. Millennium Management LLC increased its stake in shares of Silgan by 1,423.3% in the third quarter. Millennium Management LLC now owns 321,696 shares of the industrial products company’s stock worth $9,662,000 after acquiring an additional 300,578 shares during the period. BlackRock Inc. increased its stake in shares of Silgan by 3.3% in the second quarter. BlackRock Inc. now owns 7,191,552 shares of the industrial products company’s stock worth $220,060,000 after acquiring an additional 231,494 shares during the period. First Quadrant L P CA increased its stake in shares of Silgan by 85.9% in the third quarter. First Quadrant L P CA now owns 281,137 shares of the industrial products company’s stock worth $8,444,000 after acquiring an additional 129,930 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Silgan in the third quarter worth $3,463,000. 66.87% of the stock is owned by institutional investors and hedge funds.

SLGN has been the topic of a number of research reports. ValuEngine upgraded shares of Silgan from a “strong sell” rating to a “sell” rating in a research note on Friday, January 31st. BidaskClub upgraded shares of Silgan from a “sell” rating to a “hold” rating in a research report on Friday, January 24th. Finally, BMO Capital Markets restated an “outperform” rating and set a $41.00 price target on shares of Silgan in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.50.

SLGN stock traded down $0.07 during midday trading on Thursday, hitting $32.28. 12,589 shares of the stock traded hands, compared to its average volume of 533,965. The firm has a market cap of $3.61 billion, a P/E ratio of 18.56, a PEG ratio of 1.83 and a beta of 0.75. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.44 and a quick ratio of 0.24. The stock’s fifty day simple moving average is $31.29 and its 200-day simple moving average is $30.55. Silgan Holdings Inc. has a 1-year low of $27.31 and a 1-year high of $32.80.

Silgan (NASDAQ:SLGN) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $0.38 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.02 billion. Silgan had a net margin of 4.32% and a return on equity of 25.07%. On average, research analysts predict that Silgan Holdings Inc. will post 2.32 earnings per share for the current year.

About Silgan

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.

See Also: Commodities

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Institutional Ownership by Quarter for Silgan (NASDAQ:SLGN)

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