Teachers Retirement System of The State of Kentucky cut its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN – Get Rating) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 109,710 shares of the industrial products company's stock after selling 800 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.10% of Silgan worth $5,072,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Quent Capital LLC increased its holdings in 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 buying an additional 282 shares during the period. Meeder Asset Management Inc. purchased a new position in Silgan during the first quarter valued at approximately $74,000. Captrust Financial Advisors increased its holdings in Silgan by 65.2% during the first quarter. Captrust Financial Advisors now owns 1,895 shares of the industrial products company's stock valued at $88,000 after buying an additional 748 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Silgan during the first quarter valued at approximately $89,000. Finally, Shelton Capital Management purchased a new position in Silgan during the first quarter valued at approximately $200,000. 68.21% of the stock is owned by hedge funds and other institutional investors.
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Silgan Price Performance
Shares of SLGN opened at $46.47 on Monday. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 2.33 and a beta of 0.75. Silgan Holdings Inc. has a twelve month low of $37.10 and a twelve month high of $48.61. The company has a quick ratio of 0.66, a current ratio of 1.30 and a debt-to-equity ratio of 2.07. The company has a 50 day moving average of $44.46 and a two-hundred day moving average of $44.09.
Silgan (NASDAQ:SLGN – Get Rating) last announced its earnings results on Wednesday, July 27th. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.12. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.57 billion. Silgan had a net
margin of 6.07% and a return on equity of 26.03%. Silgan's revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm earned $0.85 earnings per share. As a group, analysts predict that Silgan Holdings Inc. will post 3.99 earnings per share for the current fiscal year.
Silgan Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.64 annualized dividend and a yield of 1.38%. Silgan's dividend payout ratio (DPR) is 19.34%.
Insider Buying and Selling at Silgan
In other news, CFO Robert B. Lewis sold 3,918 shares of Silgan stock in a transaction on Friday, August 26th. The shares were sold at an average price of $47.43, for a total transaction of $185,830.74. Following the completion of the sale, the chief financial officer now directly owns 236,177 shares in the company, valued at $11,201,875.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Robert B. Lewis sold 11,082 shares of Silgan stock in a transaction on Monday, August 29th. The shares were sold at an average price of $46.75, for a total transaction of $518,083.50. Following the completion of the sale, the chief financial officer now directly owns 225,095 shares in the company, valued at $10,523,191.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert B. Lewis sold 3,918 shares of Silgan stock in a transaction on Friday, August 26th. The stock was sold at an average price of $47.43, for a total transaction of $185,830.74. Following the sale, the chief financial officer now owns 236,177 shares of the company's stock, valued at $11,201,875.11. The disclosure for this sale can be found here. 24.33% of the stock is owned by insiders.
About Silgan
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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.
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