Shell Asset Management Co. Invests $1.08 Million in Silgan Holdings Inc. (SLGN) Stock
Shell Asset Management Co. acquired a new stake in Silgan Holdings Inc. (NASDAQ:SLGN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,976 shares of the industrial products company’s stock, valued at approximately $1,080,000.
A number of other hedge funds and other institutional investors have also modified their holdings of SLGN. UBS Asset Management Americas Inc. grew its stake in Silgan Holdings by 13.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 32,343 shares of the industrial products company’s stock valued at $1,920,000 after acquiring an additional 3,752 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Silgan Holdings by 9.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 207 shares during the last quarter. Credit Agricole S A acquired a new stake in shares of Silgan Holdings during the 1st quarter worth about $345,000. Principal Financial Group Inc. boosted its stake in shares of Silgan Holdings by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 154,204 shares of the industrial products company’s stock worth $9,154,000 after purchasing an additional 2,598 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Silgan Holdings by 23.9% during the 1st quarter. Teachers Advisors LLC now owns 44,393 shares of the industrial products company’s stock worth $2,635,000 after purchasing an additional 8,553 shares during the last quarter. 66.53% of the stock is currently owned by hedge funds and other institutional investors.
In other Silgan Holdings news, insider Thomas James Snyder sold 10,506 shares of Silgan Holdings stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $30.78, for a total transaction of $323,374.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Anthony P. Andreacchi sold 2,192 shares of Silgan Holdings stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $30.18, for a total value of $66,154.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,698 shares of company stock worth $597,429. Company insiders own 33.10% of the company’s stock.
Several equities research analysts have issued reports on the stock. Robert W. Baird reaffirmed a “hold” rating and set a $32.00 price target on shares of Silgan Holdings in a research note on Friday, October 27th. KeyCorp reaffirmed a “hold” rating on shares of Silgan Holdings in a research note on Sunday. BidaskClub raised shares of Silgan Holdings from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Zacks Investment Research cut shares of Silgan Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, ValuEngine cut shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $31.57.
Silgan Holdings Inc. (NASDAQ:SLGN) opened at 29.25 on Wednesday. Silgan Holdings Inc. has a one year low of $24.36 and a one year high of $32.50. The stock’s 50 day moving average is $29.10 and its 200 day moving average is $30.46. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 23.23 and a beta of 0.53.
Silgan Holdings (NASDAQ:SLGN) last released 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). Silgan Holdings had a net margin of 3.77% and a return on equity of 32.87%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $0.61 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. On average, equities analysts forecast that Silgan Holdings Inc. will post $1.64 EPS for the current year.
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Silgan Holdings 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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