Silgan Holdings Inc. (SLGN) Stock Price Down 5.3%
Silgan Holdings Inc. (NASDAQ:SLGN) shares fell 5.3% during mid-day trading on Wednesday . The company traded as low as $49.19 and last traded at $49.89, with a volume of 377,462 shares trading hands. The stock had previously closed at $52.67.
A number of research firms recently issued reports on SLGN. Zacks Investment Research upgraded Silgan Holdings from a “sell” rating to a “hold” rating in a report on Monday, April 11th. BMO Capital Markets restated a “buy” rating on shares of Silgan Holdings in a research note on Thursday, April 28th. Deutsche Bank AG restated a “hold” rating and issued a $50.00 price target on shares of Silgan Holdings in a research note on Thursday, May 19th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $53.00 price target on shares of Silgan Holdings in a research note on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Silgan Holdings currently has an average rating of “Hold” and a consensus target price of $53.38.
The stock has a market cap of $3.02 billion and a price-to-earnings ratio of 18.34. The company has a 50 day moving average price of $51.32 and a 200-day moving average price of $51.64.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business earned $874.60 million during the quarter, compared to analyst estimates of $895.15 million. The company’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company posted $0.71 earnings per share. On average, equities analysts forecast that Silgan Holdings Inc. will post $2.89 EPS for the current fiscal year.
In related news, VP Anthony P. Andreacchi sold 600 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $50.72, for a total value of $30,432.00. Following the transaction, the vice president now directly owns 9,741 shares in the company, valued at $494,063.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas James Snyder sold 4,367 shares of the company’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $50.55, for a total transaction of $220,751.85. Following the completion of the transaction, the insider now owns 76,460 shares in the company, valued at $3,865,053. The disclosure for this sale can be found here.
Several institutional investors have added to or reduced their stakes in SLGN. Wells Fargo & Company MN increased its position in Silgan Holdings by 23.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,153,048 shares of the company’s stock valued at $61,940,000 after buying an additional 221,465 shares during the period. Liberty Mutual Group Asset Management Inc. increased its stake in shares of Silgan Holdings by 42.9% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 24,625 shares of the company’s stock worth $1,323,000 after buying an additional 7,395 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Silgan Holdings by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 130,382 shares of the company’s stock worth $7,004,000 after buying an additional 3,512 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Silgan Holdings by 2.0% in the fourth quarter. Comerica Bank now owns 30,568 shares of the company’s stock worth $1,628,000 after buying an additional 588 shares during the last quarter.
Silgan Holdings Inc (Silgan) is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products. The Company operates through three segments: metal container, closures and plastic container. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products.
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