NumerixS Investment Technologies Inc Sells 7,400 Shares of Silgan Holdings Inc. (SLGN)
NumerixS Investment Technologies Inc lowered its stake in Silgan Holdings Inc. (NASDAQ:SLGN) by 62.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,510 shares of the industrial products company’s stock after selling 7,400 shares during the period. NumerixS Investment Technologies Inc’s holdings in Silgan were worth $120,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its position in Silgan by 16.1% in the first quarter. Prudential Financial Inc. now owns 61,992 shares of the industrial products company’s stock worth $1,727,000 after acquiring an additional 8,592 shares in the last quarter. Victory Capital Management Inc. grew its position in Silgan by 1,262.8% in the second quarter. Victory Capital Management Inc. now owns 125,870 shares of the industrial products company’s stock worth $3,377,000 after acquiring an additional 116,634 shares in the last quarter. Principal Financial Group Inc. grew its position in Silgan by 4.1% in the first quarter. Principal Financial Group Inc. now owns 328,477 shares of the industrial products company’s stock worth $9,148,000 after acquiring an additional 12,971 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Silgan by 12.4% during the second quarter. American Century Companies Inc. now owns 2,116,535 shares of the industrial products company’s stock valued at $56,787,000 after buying an additional 233,162 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Silgan by 5.0% during the first quarter. Wells Fargo & Company MN now owns 1,876,811 shares of the industrial products company’s stock valued at $52,271,000 after buying an additional 88,757 shares during the period. Institutional investors own 67.45% of the company’s stock.
Shares of NASDAQ:SLGN opened at $27.54 on Thursday. Silgan Holdings Inc. has a 1 year low of $26.18 and a 1 year high of $31.05. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.32 and a beta of 0.47. The company has a quick ratio of 0.57, a current ratio of 1.11 and a debt-to-equity ratio of 2.59.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th will be issued a $0.10 dividend. The ex-dividend date is Friday, August 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.45%. Silgan’s payout ratio is 24.24%.
Several brokerages have issued reports on SLGN. BidaskClub upgraded Silgan from a “strong sell” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research lowered Silgan from a “buy” rating to a “hold” rating in a research report on Thursday, June 21st. UBS Group began coverage on Silgan in a research report on Wednesday, June 20th. They set a “sell” rating and a $25.00 target price for the company. Finally, Jefferies Financial Group began coverage on Silgan in a research report on Friday, May 18th. They set a “buy” rating and a $33.00 target price for the company. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Silgan presently has an average rating of “Hold” and an average target price of $31.00.
In related news, VP Anthony P. Andreacchi sold 1,843 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $27.15, for a total value of $50,037.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert B. Lewis sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $27.42, for a total value of $493,560.00. The disclosure for this sale can be found here. Insiders sold 25,843 shares of company stock valued at $707,037 in the last quarter. 30.32% of the stock is owned by company insiders.
Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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