Texas Permanent School Fund grew its position in Silgan Holdings Inc. (NASDAQ:SLGN) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,671 shares of the industrial products company’s stock after acquiring an additional 1,950 shares during the period. Texas Permanent School Fund’s holdings in Silgan were worth $1,197,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc grew its position in shares of Silgan by 1.8% in the 3rd quarter. Vanguard Group Inc now owns 7,887,481 shares of the industrial products company’s stock valued at $219,272,000 after acquiring an additional 135,931 shares during the period. Vanguard Group Inc. grew its position in shares of Silgan by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,887,481 shares of the industrial products company’s stock valued at $219,272,000 after acquiring an additional 135,931 shares during the period. JPMorgan Chase & Co. grew its position in shares of Silgan by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,871,521 shares of the industrial products company’s stock valued at $218,829,000 after acquiring an additional 235,700 shares during the period. BlackRock Inc. grew its position in shares of Silgan by 1.8% in the 4th quarter. BlackRock Inc. now owns 6,934,468 shares of the industrial products company’s stock valued at $163,791,000 after acquiring an additional 120,164 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Silgan by 3.8% in the 3rd quarter. Wells Fargo & Company MN now owns 2,169,142 shares of the industrial products company’s stock valued at $60,302,000 after acquiring an additional 80,244 shares during the period. 65.67% of the stock is owned by institutional investors.
In other Silgan news, insider Anthony J. Allott sold 63,490 shares of Silgan stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $28.49, for a total value of $1,808,830.10. Following the completion of the sale, the insider now owns 972,075 shares in the company, valued at approximately $27,694,416.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Allott sold 25,320 shares of Silgan stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $28.33, for a total transaction of $717,315.60. Following the completion of the sale, the chief executive officer now owns 972,075 shares of the company’s stock, valued at approximately $27,538,884.75. The disclosure for this sale can be found here. Insiders have sold a total of 95,172 shares of company stock valued at $2,709,435 in the last ninety days. 30.32% of the stock is currently owned by insiders.
Shares of SLGN stock traded down $0.05 during midday trading on Friday, hitting $28.76. 135,871 shares of the company were exchanged, compared to its average volume of 441,331. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.73 and a beta of 0.83. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.20 and a current ratio of 1.20. Silgan Holdings Inc. has a 52 week low of $22.24 and a 52 week high of $29.62.
Silgan (NASDAQ:SLGN) last announced its earnings results on Tuesday, January 29th. The industrial products company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.02 billion. Silgan had a net margin of 5.03% and a return on equity of 26.82%. Sell-side analysts forecast that Silgan Holdings Inc. will post 2.17 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be issued a dividend of $0.11 per share. This is an increase from Silgan’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, March 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.53%. Silgan’s payout ratio is presently 19.23%.
A number of brokerages have recently commented on SLGN. BidaskClub downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research report on Thursday. TheStreet raised shares of Silgan from a “c+” rating to a “b” rating in a research report on Tuesday, February 5th. ValuEngine raised shares of Silgan from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Barclays raised shares of Silgan from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Finally, Citigroup raised shares of Silgan from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Silgan presently has an average rating of “Hold” and an average target price of $28.45.
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Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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