Principal Financial Group Inc. boosted its holdings in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 108.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 322,161 shares of the industrial products company’s stock after purchasing an additional 167,957 shares during the period. Principal Financial Group Inc. owned about 0.29% of Silgan Holdings worth $10,238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SLGN. BlackRock Inc. lifted its stake in Silgan Holdings by 12,224.8% during the first quarter. BlackRock Inc. now owns 3,200,257 shares of the industrial products company’s stock worth $189,966,000 after purchasing an additional 3,174,291 shares during the last quarter. American Century Companies Inc. lifted its stake in Silgan Holdings by 110.6% during 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 purchasing an additional 621,131 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Silgan Holdings by 96.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,164,656 shares of the industrial products company’s stock worth $37,013,000 after purchasing an additional 571,928 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Silgan Holdings by 102.2% during the second quarter. Bank of New York Mellon Corp now owns 1,107,558 shares of the industrial products company’s stock worth $35,197,000 after purchasing an additional 559,848 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Silgan Holdings by 212.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 811,183 shares of the industrial products company’s stock worth $25,780,000 after purchasing an additional 551,311 shares during the last quarter. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Several research firms have weighed in on SLGN. Goldman Sachs Group, Inc. (The) cut Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 target price for the company. in a research note on Thursday, July 13th. BMO Capital Markets restated a “buy” rating and set a $34.00 target price on shares of Silgan Holdings in a research note on Sunday, July 9th. Robert W. Baird cut Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 target price for the company. in a research note on Wednesday, July 19th. Zacks Investment Research cut Silgan Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, BidaskClub cut Silgan Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $32.33.

In other news, VP Robert B. Lewis sold 7,000 shares of Silgan Holdings stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $29.70, for a total transaction of $207,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas James Snyder sold 10,506 shares of Silgan Holdings stock in a transaction on Monday, August 14th. The stock was sold at an average price of $30.78, for a total transaction of $323,374.68. The disclosure for this sale can be found here. Insiders have sold a total of 19,698 shares of company stock valued at $597,429 over the last ninety days. 33.10% of the stock is currently owned by insiders.

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Silgan Holdings Inc. (SLGN) opened at 29.00 on Monday. The stock’s 50 day moving average is $29.98 and its 200 day moving average is $30.60. Silgan Holdings Inc. has a one year low of $23.58 and a one year high of $32.50. The firm has a market capitalization of $3.19 billion, a P/E ratio of 22.75 and a beta of 0.54.

Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $0.60 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts predict that Silgan Holdings Inc. will post $1.66 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Wednesday, August 30th. Silgan Holdings’s dividend payout ratio is currently 29.03%.

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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Institutional Ownership by Quarter for Silgan Holdings (NASDAQ:SLGN)

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