Bank of New York Mellon Corp grew its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN – Get Rating) by 1.4% during the first quarter, Holdings Channel reports. The firm owned 961,126 shares of the industrial products company's stock after purchasing an additional 13,328 shares during the period. Bank of New York Mellon Corp's holdings in Silgan were worth $44,434,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of SLGN. JPMorgan Chase & Co. increased its holdings in shares of Silgan by 11.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,310,001 shares of the industrial products company's stock valued at $227,481,000 after acquiring an additional 528,349 shares during the period. Los Angeles Capital Management LLC increased its stake in Silgan by 1,347.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 310,911 shares of the industrial products company's stock valued at $14,373,000 after buying an additional 289,427 shares during the period. Bank of America Corp DE increased its stake in Silgan by 45.5% in the 4th quarter. Bank of America Corp DE now owns 812,412 shares of the industrial products company's stock valued at $34,804,000 after buying an additional 254,215 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in Silgan in the 4th quarter valued at $10,710,000. Finally, Leeward Investments LLC MA acquired a new position in Silgan in the 1st quarter valued at $10,571,000. 68.21% of the stock is owned by institutional investors and hedge funds.
Get Silgan alerts:Silgan Price Performance
Shares of NASDAQ SLGN opened at $45.06 on Tuesday. The firm has a market capitalization of $4.97 billion, a P/E ratio of 13.61, a PEG ratio of 2.26 and a beta of 0.75. Silgan Holdings Inc. has a one year low of $37.10 and a one year high of $47.71. The company's fifty day moving average is $43.34 and its two-hundred day moving average is $43.71. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.66 and a current ratio of 1.30.
Silgan (NASDAQ:SLGN – Get Rating) last issued its earnings results on Wednesday, July 27th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.96 by $0.12. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.57 billion. Silgan had a net margin of 6.07% and a return on equity of 26.03%. The business's revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. Analysts forecast that Silgan Holdings Inc. will post 3.99 EPS for the current fiscal year.Silgan Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.42%. Silgan's payout ratio is currently 19.34%.
Insiders Place Their Bets
In related news, CFO Robert B. Lewis sold 3,918 shares of the business's stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $47.43, for a total value of $185,830.74. Following the sale, the chief financial officer now directly owns 236,177 shares in the company, valued at approximately $11,201,875.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Robert B. Lewis sold 11,082 shares of the business'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 sale, the chief financial officer now directly owns 225,095 shares in the company, valued at approximately $10,523,191.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert B. Lewis sold 3,918 shares of the business's stock in a transaction dated Friday, August 26th. The stock was 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 owns 236,177 shares in the company, valued at $11,201,875.11. 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.
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