Rhumbline Advisers Has $11.91 Million Position in Silgan Holdings Inc. (NYSE:SLGN)

Rhumbline Advisers lessened its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 3.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 281,323 shares of the industrial products company’s stock after selling 9,785 shares during the period. Rhumbline Advisers’ holdings in Silgan were worth $11,908,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of Silgan by 256.6% in the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 426 shares during the last quarter. Principal Securities Inc. acquired a new position in Silgan in the fourth quarter valued at about $30,000. Versant Capital Management Inc boosted its holdings in Silgan by 2,838.5% during the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after buying an additional 1,107 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Silgan by 109.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 613 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Silgan by 69.7% in the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 462 shares during the period. Institutional investors own 70.25% of the company’s stock.

Silgan Trading Down 0.8 %

SLGN opened at $49.54 on Thursday. The stock has a market capitalization of $5.29 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.47 and a beta of 0.67. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. Silgan Holdings Inc. has a 12 month low of $38.11 and a 12 month high of $52.84. The firm’s fifty day simple moving average is $48.33 and its 200 day simple moving average is $46.70.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 earnings per share. As a group, research analysts anticipate that Silgan Holdings Inc. will post 3.66 EPS for the current fiscal year.

Silgan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Tuesday, September 3rd. Silgan’s dividend payout ratio (DPR) is currently 26.67%.

Wall Street Analysts Forecast Growth

SLGN has been the subject of a number of analyst reports. Citigroup boosted their price objective on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Robert W. Baird lifted their price target on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Wells Fargo & Company raised their price objective on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, StockNews.com raised Silgan from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Insider Transactions at Silgan

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the sale, the vice president now owns 11,495 shares of the company’s stock, valued at $563,714.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.39% of the company’s stock.

Silgan Company Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers a range of metal and plastic closures, and dispensing systems for food, beverage, health care, garden, home, personal care, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.