Pacer Advisors Inc. Has $240,000 Stake in Silgan Holdings Inc. (SLGN)
Pacer Advisors Inc. raised its stake in Silgan Holdings Inc. (NASDAQ:SLGN) by 176.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,562 shares of the industrial products company’s stock after acquiring an additional 4,830 shares during the quarter. Pacer Advisors Inc.’s holdings in Silgan Holdings were worth $240,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Utah Retirement Systems raised its holdings in shares of Silgan Holdings by 100.0% in the second quarter. Utah Retirement Systems now owns 13,504 shares of the industrial products company’s stock worth $429,000 after acquiring an additional 6,752 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Silgan Holdings by 337.9% in the second quarter. Prudential Financial Inc. now owns 100,590 shares of the industrial products company’s stock worth $3,197,000 after acquiring an additional 77,620 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Silgan Holdings by 110.6% in the second quarter. American Century Companies Inc. now owns 1,182,606 shares of the industrial products company’s stock worth $37,583,000 after acquiring an additional 621,131 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Silgan Holdings in the second quarter worth $140,000. Finally, Federated Investors Inc. PA raised its holdings in shares of Silgan Holdings by 134.5% in the second quarter. Federated Investors Inc. PA now owns 49,361 shares of the industrial products company’s stock worth $1,569,000 after acquiring an additional 28,315 shares during the last quarter. 67.00% of the stock is owned by institutional investors.
In related news, VP Anthony P. Andreacchi sold 2,192 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $30.18, for a total transaction of $66,154.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert B. Lewis sold 7,000 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $29.70, for a total value of $207,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,698 shares of company stock valued at $597,429. 33.10% of the stock is owned by corporate insiders.
SLGN has been the subject of a number of analyst reports. ValuEngine raised Silgan Holdings from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 31st. Deutsche Bank AG reissued a “hold” rating and issued a $30.00 price target (down from $60.00) on shares of Silgan Holdings in a report on Monday, June 5th. BidaskClub cut Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research cut Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $34.00 price target on shares of Silgan Holdings in a report on Sunday, July 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $32.33.
Silgan Holdings Inc. (NASDAQ SLGN) opened at 29.46 on Friday. Silgan Holdings Inc. has a 1-year low of $23.58 and a 1-year high of $32.50. The company has a 50-day moving average price of $30.09 and a 200 day moving average price of $30.61. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 23.40 and a beta of 0.54.
Silgan Holdings (NASDAQ:SLGN) last released its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.35. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. Equities analysts anticipate that Silgan Holdings Inc. will post $1.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.36 annualized dividend and a dividend yield of 1.22%. Silgan Holdings’s dividend payout ratio is 29.03%.
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Silgan Holdings Company Profile
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
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