Shell Asset Management Co. decreased its position in shares of Silgan Holdings Inc. (NASDAQ:SLGN – Get Rating) by 12.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,277 shares of the industrial products company’s stock after selling 1,520 shares during the quarter. Shell Asset Management Co.’s holdings in Silgan were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinebridge Investments L.P. acquired a new position in shares of Silgan during the 4th quarter valued at about $111,000. First Republic Investment Management Inc. acquired a new position in shares of Silgan during the 4th quarter valued at about $207,000. PEAK6 Investments LLC boosted its position in shares of Silgan by 216.2% during the 4th quarter. PEAK6 Investments LLC now owns 4,960 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 9,230 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Silgan during the 4th quarter valued at about $216,000. Finally, Inspire Investing LLC acquired a new position in shares of Silgan during the 1st quarter valued at about $235,000. Institutional investors and hedge funds own 67.77% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have commented on SLGN shares. Raymond James reaffirmed a “maintains” rating on shares of Silgan in a research report on Thursday, July 28th. StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Citigroup increased their price target on shares of Silgan from $45.00 to $50.00 in a research report on Friday, April 8th. Finally, Royal Bank of Canada reissued a “maintains” rating on shares of Silgan in a research report on Thursday, July 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $49.89.
Silgan Stock Down 0.0 %
Silgan (NASDAQ:SLGN – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $1.08 EPS for the quarter, beating 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 firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 earnings per share. On average, equities research analysts anticipate that Silgan Holdings Inc. will post 3.98 EPS for the current fiscal year.
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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