Treasurer of the State of North Carolina raised its position in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 7.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 38,250 shares of the industrial products company’s stock after acquiring an additional 2,550 shares during the period. Treasurer of the State of North Carolina’s holdings in Silgan were worth $1,170,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SLGN. BlackRock Inc. grew its stake in shares of Silgan by 3.3% during the second quarter. BlackRock Inc. now owns 7,191,552 shares of the industrial products company’s stock valued at $220,060,000 after purchasing an additional 231,494 shares during the last quarter. Natixis bought a new stake in shares of Silgan during the 2nd quarter worth about $4,497,000. Verition Fund Management LLC bought a new stake in shares of Silgan during the 2nd quarter worth about $274,000. United Services Automobile Association boosted its holdings in shares of Silgan by 17.7% during the 2nd quarter. United Services Automobile Association now owns 48,825 shares of the industrial products company’s stock worth $1,494,000 after buying an additional 7,325 shares during the period. Finally, Voloridge Investment Management LLC bought a new stake in shares of Silgan during the 2nd quarter worth about $228,000. 65.77% of the stock is owned by institutional investors.
NASDAQ SLGN opened at $30.01 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.98 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $3.29 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.76 and a beta of 0.77. Silgan Holdings Inc. has a 12-month low of $22.24 and a 12-month high of $31.69. The firm has a 50-day moving average price of $29.66 and a two-hundred day moving average price of $29.98.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, August 30th. Silgan’s dividend payout ratio is currently 21.15%.
Several brokerages recently commented on SLGN. JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $31.00 to $33.00 in a report on Wednesday, July 17th. ValuEngine downgraded shares of Silgan from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. BidaskClub raised shares of Silgan from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Citigroup lifted their target price on shares of Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $30.63.
In other Silgan news, Director John W. Alden sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $29.71, for a total value of $59,420.00. Following the completion of the sale, the director now owns 67,331 shares of the company’s stock, valued at approximately $2,000,404.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas James Snyder sold 10,444 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.02, for a total transaction of $323,972.88. The disclosure for this sale can be found here. Insiders own 30.32% of the company’s stock.
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 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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