Sei Investments Co. Purchases 39,293 Shares of Silgan Holdings Inc. (SLGN)
Sei Investments Co. raised its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 16.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 273,658 shares of the industrial products company’s stock after buying an additional 39,293 shares during the period. Sei Investments Co. owned about 0.25% of Silgan worth $7,342,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Silgan during the second quarter worth about $537,000. Victory Capital Management Inc. grew its holdings in Silgan by 1,262.8% during the 2nd quarter. Victory Capital Management Inc. now owns 125,870 shares of the industrial products company’s stock worth $3,377,000 after acquiring an additional 116,634 shares in the last quarter. First Trust Advisors LP grew its holdings in Silgan by 327.8% during the 2nd quarter. First Trust Advisors LP now owns 243,173 shares of the industrial products company’s stock worth $6,524,000 after acquiring an additional 186,335 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Silgan by 11.3% during the 2nd quarter. Wells Fargo & Company MN now owns 2,088,898 shares of the industrial products company’s stock worth $56,044,000 after acquiring an additional 212,087 shares in the last quarter. Finally, Comerica Bank grew its holdings in Silgan by 20.8% during the 2nd quarter. Comerica Bank now owns 241,064 shares of the industrial products company’s stock worth $6,444,000 after acquiring an additional 41,516 shares in the last quarter. 67.45% of the stock is owned by hedge funds and other institutional investors.
In other Silgan news, VP Robert B. Lewis sold 18,000 shares of Silgan stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $27.42, for a total value of $493,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leigh J. Abramson acquired 7,500 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was acquired at an average cost of $27.36 per share, with a total value of $205,200.00. Following the acquisition, the director now owns 7,500 shares of the company’s stock, valued at $205,200. The disclosure for this purchase can be found here. Insiders have sold 25,843 shares of company stock valued at $707,037 in the last three months. Corporate insiders own 30.32% of the company’s stock.
Silgan (NASDAQ:SLGN) last posted its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $0.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. Silgan had a net margin of 7.37% and a return on equity of 28.00%. Silgan’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 earnings per share. sell-side analysts expect that Silgan Holdings Inc. will post 2.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Friday, August 31st. Silgan’s payout ratio is currently 24.24%.
SLGN has been the subject of several research analyst reports. Zacks Investment Research cut shares of Silgan from a “buy” rating to a “hold” rating in a report on Friday, May 25th. UBS Group assumed coverage on shares of Silgan in a research report on Wednesday, June 20th. They issued a “sell” rating and a $25.00 price target for the company. Finally, BidaskClub upgraded shares of Silgan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 27th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Silgan presently has an average rating of “Hold” and a consensus price target of $31.00.
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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