Clark Capital Management Group Inc. purchased a new position in Silgan Holdings Inc. (NASDAQ:SLGN – Get Rating) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 525,646 shares of the industrial products company's stock, valued at approximately $24,301,000. Clark Capital Management Group Inc. owned 0.47% of Silgan as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Quent Capital LLC increased its position in shares of Silgan by 110.6% during the first quarter. Quent Capital LLC now owns 537 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 282 shares during the period. Meeder Asset Management Inc. bought a new stake in Silgan in the first quarter valued at $74,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Silgan in the first quarter valued at $89,000. Pinebridge Investments L.P. bought a new stake in Silgan in the fourth quarter valued at $111,000. Finally, Shelton Capital Management bought a new stake in Silgan in the first quarter valued at $200,000. 68.21% of the stock is currently owned by institutional investors.
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Silgan Stock Performance
Shares of NASDAQ:SLGN opened at $47.66 on Friday. The business's fifty day moving average price is $43.83 and its two-hundred day moving average price is $43.87. Silgan Holdings Inc. has a fifty-two week low of $37.10 and a fifty-two week high of $47.71. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 2.37 and a beta of 0.75. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.30 and a quick ratio of 0.66.
Silgan (NASDAQ:SLGN – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.12. Silgan had a return on equity of 26.03% and a net
margin of 6.07%. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.57 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The business's revenue was up 14.5% compared to the same quarter last year. As a group, analysts predict that Silgan Holdings Inc. will post 3.99 EPS for the current fiscal year.
Silgan Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Wednesday, August 31st. Silgan's dividend payout ratio is currently 19.34%.
Insiders Place Their Bets
In other Silgan news, CFO Robert B. Lewis sold 11,082 shares of the business's stock in a transaction on Monday, August 29th. The stock was sold at an average price of $46.75, for a total value of $518,083.50. Following the transaction, the chief financial officer now owns 225,095 shares of the company's stock, valued at $10,523,191.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Silgan news, CFO Robert B. Lewis sold 3,918 shares of the business's stock in a transaction on Friday, August 26th. The stock was sold at an average price of $47.43, for a total value of $185,830.74. Following the transaction, the chief financial officer now owns 236,177 shares of the company's stock, valued at $11,201,875.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Robert B. Lewis sold 11,082 shares of the company's stock in a transaction on Monday, August 29th. The shares were sold at an average price of $46.75, for a total value of $518,083.50. Following the transaction, the chief financial officer now directly owns 225,095 shares in the company, valued at approximately $10,523,191.25. The disclosure for this sale can be found here. Insiders own 24.33% of the company's stock.
Silgan Company Profile
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Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products in North America, Europe, and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
Further Reading
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