GW&K Investment Management LLC grew its position in Silgan Holdings Inc. (NASDAQ:SLGN) by 8.3% in the third quarter, HoldingsChannel.com reports. The fund owned 1,145,891 shares of the industrial products company’s stock after buying an additional 87,379 shares during the period. GW&K Investment Management LLC’s holdings in Silgan were worth $34,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Several other institutional investors and hedge funds have also recently made changes to their positions in SLGN. Bogle Investment Management L P DE bought a new stake in shares of Silgan during the 2nd quarter worth about $898,000. Clark Capital Management Group Inc. acquired a new position in shares of Silgan in the 2nd quarter valued at approximately $2,628,000. Advisors Preferred LLC acquired a new position in shares of Silgan in the 2nd quarter valued at approximately $548,000. BNP Paribas Arbitrage SA raised its position in shares of Silgan by 730.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 40,786 shares of the industrial products company’s stock valued at $1,248,000 after buying an additional 35,877 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new position in shares of Silgan in the 2nd quarter valued at approximately $670,000. 66.03% of the stock is owned by institutional investors.
SLGN stock traded up $0.09 during trading on Friday, reaching $30.99. 417,900 shares of the company were exchanged, compared to its average volume of 463,886. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.84 and a beta of 0.76. Silgan Holdings Inc. has a twelve month low of $22.24 and a twelve month high of $31.69. The company has a 50-day moving average of $30.20 and a two-hundred day moving average of $30.09. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.48 and a quick ratio of 0.27.
Silgan (NASDAQ:SLGN) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Silgan had a net margin of 4.37% and a return on equity of 26.05%. Silgan’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. On average, analysts forecast that Silgan Holdings Inc. will post 2.16 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, November 29th. Silgan’s dividend payout ratio is presently 21.15%.
In related news, Director John W. Alden sold 2,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $29.71, for a total transaction of $59,420.00. Following the transaction, the director now directly owns 67,331 shares of the company’s stock, valued at $2,000,404.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 30.32% of the stock is owned by corporate insiders.
Several equities analysts have recently commented on SLGN shares. Zacks Investment Research cut shares of Silgan from a “hold” rating to a “sell” rating and set a $32.00 target price for the company. in a research report on Tuesday, October 15th. BidaskClub upgraded shares of Silgan from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $31.00 to $33.00 in a research report on Wednesday, July 17th. Finally, ValuEngine cut shares of Silgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Silgan presently has a consensus rating of “Hold” and an average price target of $33.67.
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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