Silgan Holdings Inc. (SLGN) Short Interest Down 31.5% in October
Silgan Holdings Inc. (NASDAQ:SLGN) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,802,299 shares, a decline of 31.5% from the October 13th total of 2,631,497 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 624,756 shares, the days-to-cover ratio is currently 2.9 days.
Silgan Holdings (NASDAQ SLGN) opened at $28.69 on Friday. Silgan Holdings has a twelve month low of $24.36 and a twelve month high of $32.50. The firm has a market capitalization of $3,120.00, a price-to-earnings ratio of 18.33, a P/E/G ratio of 1.75 and a beta of 0.52. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.96.
Silgan Holdings (NASDAQ:SLGN) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.03). The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. Silgan Holdings had a net margin of 3.77% and a return on equity of 32.87%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. analysts expect that Silgan Holdings will post 1.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.25%. The ex-dividend date is Thursday, November 30th. Silgan Holdings’s dividend payout ratio (DPR) is 27.48%.
SLGN has been the subject of a number of research reports. BMO Capital Markets reiterated a “buy” rating and issued a $34.00 price objective on shares of Silgan Holdings in a research note on Monday, September 18th. KeyCorp restated a “hold” rating on shares of Silgan Holdings in a research note on Thursday, October 12th. Royal Bank Of Canada initiated coverage on Silgan Holdings in a research note on Monday, October 9th. They set a “sector perform” rating and a $30.00 price target for the company. Robert W. Baird restated a “hold” rating and set a $32.00 price target on shares of Silgan Holdings in a research note on Friday, October 27th. Finally, BidaskClub cut Silgan Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Three 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 company. The stock presently has an average rating of “Hold” and an average price target of $31.57.
In other Silgan Holdings news, VP Anthony P. Andreacchi sold 2,192 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $30.18, for a total value of $66,154.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert B. Lewis sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were 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. 33.10% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC purchased a new stake in shares of Silgan Holdings in the third quarter valued at $2,390,000. California Public Employees Retirement System lifted its position in shares of Silgan Holdings by 10.9% in the third quarter. California Public Employees Retirement System now owns 40,604 shares of the industrial products company’s stock valued at $1,195,000 after acquiring an additional 4,004 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Silgan Holdings in the third quarter valued at $167,000. Point72 Asset Management L.P. purchased a new stake in shares of Silgan Holdings in the third quarter valued at $7,260,000. Finally, Caxton Associates LP purchased a new stake in shares of Silgan Holdings in the third quarter valued at $571,000. 66.01% of the stock is currently owned by institutional investors.
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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