Wells Fargo & Company MN raised its holdings in Silgan Holdings Inc. (NASDAQ:SLGN) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,169,142 shares of the industrial products company’s stock after acquiring an additional 80,244 shares during the quarter. Wells Fargo & Company MN’s holdings in Silgan were worth $60,302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SLGN. OppenheimerFunds Inc. lifted its stake in Silgan by 4.5% during the second quarter. OppenheimerFunds Inc. now owns 45,275 shares of the industrial products company’s stock valued at $1,215,000 after buying an additional 1,931 shares in the last quarter. MainStreet Investment Advisors LLC lifted its stake in Silgan by 12.7% during the second quarter. MainStreet Investment Advisors LLC now owns 17,855 shares of the industrial products company’s stock valued at $479,000 after buying an additional 2,018 shares in the last quarter. Paloma Partners Management Co lifted its stake in Silgan by 10.0% during the second quarter. Paloma Partners Management Co now owns 31,339 shares of the industrial products company’s stock valued at $841,000 after buying an additional 2,844 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in Silgan by 4.7% during the second quarter. Mutual of America Capital Management LLC now owns 63,714 shares of the industrial products company’s stock valued at $1,709,000 after buying an additional 2,886 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in Silgan by 6.9% during the third quarter. Arizona State Retirement System now owns 54,981 shares of the industrial products company’s stock valued at $1,528,000 after buying an additional 3,534 shares in the last quarter. 66.01% of the stock is owned by institutional investors.

In related news, VP Robert B. Lewis sold 15,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $24.10, for a total value of $361,500.00. Following the transaction, the vice president now owns 398,063 shares in the company, valued at $9,593,318.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Alden sold 6,000 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $27.24, for a total value of $163,440.00. Following the completion of the transaction, the director now owns 65,655 shares in the company, valued at approximately $1,788,442.20. The disclosure for this sale can be found here. Insiders sold 62,300 shares of company stock worth $1,542,609 in the last 90 days. 30.32% of the stock is currently owned by corporate insiders.

NASDAQ:SLGN opened at $25.41 on Monday. Silgan Holdings Inc. has a 52 week low of $23.14 and a 52 week high of $31.05. The company has a market capitalization of $2.81 billion, a P/E ratio of 15.40, a PEG ratio of 1.20 and a beta of 0.68. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.70 and a current ratio of 1.17.

Silgan (NASDAQ:SLGN) last released its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. Silgan had a return on equity of 26.91% and a net margin of 7.59%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Silgan Holdings Inc. will post 2.05 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.57%. Silgan’s dividend payout ratio is currently 24.24%.

A number of analysts have recently issued reports on SLGN shares. Barclays reduced their price target on shares of Silgan from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, October 29th. Royal Bank of Canada reduced their price target on shares of Silgan to $25.00 and set a “sector perform” rating for the company in a research report on Monday, October 29th. BMO Capital Markets reduced their price target on shares of Silgan from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Wells Fargo & Co reduced their price target on shares of Silgan from $30.00 to $26.00 and set a “market perform” rating for the company in a research report on Thursday, October 25th. Finally, BidaskClub raised shares of Silgan from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 13th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $29.33.

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Silgan Company Profile

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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Institutional Ownership by Quarter for Silgan (NASDAQ:SLGN)

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