State of Alaska Department of Revenue lifted its position in Silgan Holdings Inc. (NASDAQ:SLGN – Get Rating) by 47.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,399 shares of the industrial products company's stock after purchasing an additional 80,135 shares during the quarter. State of Alaska Department of Revenue owned 0.23% of Silgan worth $10,353,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Clark Capital Management Group Inc. acquired a new position in Silgan during the first quarter worth $24,301,000. Fuller & Thaler Asset Management Inc. raised its stake in Silgan by 69.0% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,068,170 shares of the industrial products company's stock worth $49,381,000 after acquiring an additional 436,243 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Silgan by 1,347.2% during the first quarter. Los Angeles Capital Management LLC now owns 310,911 shares of the industrial products company's stock worth $14,373,000 after acquiring an additional 289,427 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Silgan during the fourth quarter worth $10,710,000. Finally, Leeward Investments LLC MA acquired a new position in Silgan during the first quarter worth $10,571,000. 68.21% of the stock is currently owned by institutional investors and hedge funds.
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Insider Activity
In other news, CFO Robert B. Lewis sold 3,918 shares of the firm'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 completion of the sale, the chief financial officer now directly owns 236,177 shares in the company, valued at $11,201,875.11. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Robert B. Lewis sold 3,918 shares of the firm's stock in a transaction dated 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 in the company, valued at $11,201,875.11. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert B. Lewis sold 11,082 shares of the firm's stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $46.75, for a total value of $518,083.50. Following the completion of the transaction, the chief financial officer now owns 225,095 shares in the company, valued at approximately $10,523,191.25. The disclosure for this sale can be found here. 24.33% of the stock is currently owned by corporate insiders.
Silgan Stock Performance
Silgan stock opened at $46.47 on Monday. Silgan Holdings Inc. has a 52-week low of $37.10 and a 52-week high of $48.61. The firm has a market capitalization of $5.12 billion, a P/E ratio of 12.66, a P/E/G ratio of 2.33 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. The stock has a fifty day moving average price of $44.46 and a two-hundred day moving average price 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 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 company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the company posted $0.85 earnings per share. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, analysts anticipate that Silgan Holdings Inc. will post 3.99 EPS for the current fiscal year.
Silgan Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.38%. Silgan's dividend payout ratio (DPR) is presently 19.34%.
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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