LSV Asset Management Reduces Position in Silgan Holdings Inc. (SLGN)
LSV Asset Management lowered its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 8.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 538,500 shares of the industrial products company’s stock after selling 49,300 shares during the quarter. LSV Asset Management’s holdings in Silgan were worth $15,826,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in SLGN. Alliancebernstein L.P. increased its holdings in Silgan by 87.8% in the 2nd quarter. Alliancebernstein L.P. now owns 49,106 shares of the industrial products company’s stock valued at $1,561,000 after buying an additional 22,960 shares during the period. Ameriprise Financial Inc. increased its holdings in Silgan by 163.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 319,744 shares of the industrial products company’s stock valued at $10,161,000 after buying an additional 198,495 shares during the period. New York State Common Retirement Fund increased its holdings in Silgan by 96.1% in the 2nd quarter. New York State Common Retirement Fund now owns 174,271 shares of the industrial products company’s stock valued at $5,538,000 after buying an additional 85,400 shares during the period. UBS Asset Management Americas Inc. increased its holdings in Silgan by 103.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 65,797 shares of the industrial products company’s stock valued at $2,091,000 after buying an additional 33,454 shares during the period. Finally, Northern Trust Corp increased its holdings in Silgan by 79.6% in the 2nd quarter. Northern Trust Corp now owns 648,964 shares of the industrial products company’s stock valued at $20,623,000 after buying an additional 287,658 shares during the period. 66.45% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on SLGN. KeyCorp reissued a “sell” rating and issued a $25.00 price target on shares of Silgan in a report on Thursday, February 1st. Zacks Investment Research raised shares of Silgan from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Monday, February 5th. JPMorgan Chase & Co. lowered shares of Silgan from a “neutral” rating to an “underweight” rating and set a $30.00 target price on the stock. in a report on Wednesday, January 17th. Bank of America lowered shares of Silgan from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 2nd. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $32.00 target price on shares of Silgan in a report on Friday, October 27th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Silgan currently has an average rating of “Hold” and an average target price of $30.70.
Silgan (NASDAQ:SLGN) last issued its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. The business had revenue of $995.70 million for the quarter, compared to the consensus estimate of $970.24 million. Silgan had a net margin of 6.59% and a return on equity of 30.15%. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. research analysts expect that Silgan Holdings Inc. will post 2.09 earnings per share for the current year.
In related news, Director William C. Jennings sold 25,642 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $28.38, for a total transaction of $727,719.96. Following the transaction, the director now owns 42,180 shares in the company, valued at approximately $1,197,068.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 33.10% of the stock is owned by corporate insiders.
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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