Wells Fargo & Company MN Cuts Stock Position in Silgan Holdings Inc. (NASDAQ:SLGN)

Wells Fargo & Company MN trimmed its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,000,310 shares of the industrial products company’s stock after selling 58,727 shares during the period. Wells Fargo & Company MN owned approximately 1.80% of Silgan worth $59,268,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Silgan by 1.8% during the fourth quarter. BlackRock Inc. now owns 6,934,468 shares of the industrial products company’s stock valued at $163,791,000 after buying an additional 120,164 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Silgan by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,176,800 shares of the industrial products company’s stock worth $51,415,000 after purchasing an additional 43,774 shares during the period. LSV Asset Management boosted its position in shares of Silgan by 74.4% during the first quarter. LSV Asset Management now owns 1,322,383 shares of the industrial products company’s stock worth $39,182,000 after acquiring an additional 564,147 shares during the last quarter. GW&K Investment Management LLC boosted its position in shares of Silgan by 31.0% during the fourth quarter. GW&K Investment Management LLC now owns 1,098,763 shares of the industrial products company’s stock worth $25,953,000 after acquiring an additional 260,077 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Silgan during the fourth quarter worth $24,767,000. 65.75% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ SLGN traded up $0.41 during mid-day trading on Monday, reaching $31.01. The company had a trading volume of 465,631 shares, compared to its average volume of 499,658. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.62 and a current ratio of 1.15. Silgan Holdings Inc. has a 52 week low of $22.24 and a 52 week high of $31.05. The stock’s 50-day moving average price is $29.83. The firm has a market cap of $3.40 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 1.82 and a beta of 0.80.

Silgan (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Silgan had a net margin of 5.04% and a return on equity of 26.74%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. As a group, sell-side analysts predict that Silgan Holdings Inc. will post 2.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, May 31st. Silgan’s payout ratio is currently 21.15%.

SLGN has been the topic of a number of recent research reports. BidaskClub raised shares of Silgan from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Zacks Investment Research downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. Finally, KeyCorp reissued a “hold” rating on shares of Silgan in a research note on Wednesday, April 24th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Silgan has an average rating of “Hold” and a consensus price target of $29.33.

In other Silgan news, insider Adam J. Greenlee sold 110,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $29.90, for a total transaction of $3,289,000.00. Following the completion of the transaction, the insider now directly owns 131,367 shares of the company’s stock, valued at approximately $3,927,873.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert B. Lewis sold 18,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $30.03, for a total transaction of $552,552.00. Following the transaction, the chief financial officer now directly owns 252,117 shares of the company’s stock, valued at $7,571,073.51. The disclosure for this sale can be found here. Insiders sold a total of 259,334 shares of company stock valued at $7,772,706 over the last ninety days. 30.32% of the stock is currently owned by insiders.

About Silgan

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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Institutional Ownership by Quarter for Silgan (NASDAQ:SLGN)

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