Empire Life Investments Inc. boosted its position in Silgan Holdings Inc. (NASDAQ:SLGN) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,287 shares of the industrial products company’s stock after purchasing an additional 497 shares during the period. Empire Life Investments Inc.’s holdings in Silgan were worth $385,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Clearbridge Investments LLC purchased a new stake in shares of Silgan during the third quarter worth $16,055,000. Walthausen & Co. LLC purchased a new stake in shares of Silgan during the third quarter worth $12,179,000. WINTON GROUP Ltd purchased a new stake in shares of Silgan during the third quarter worth $10,035,000. FMR LLC lifted its position in shares of Silgan by 2.6% during the second quarter. FMR LLC now owns 13,207,468 shares of the industrial products company’s stock worth $354,357,000 after acquiring an additional 330,350 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Silgan by 4.2% during the third quarter. BlackRock Inc. now owns 6,814,304 shares of the industrial products company’s stock worth $189,436,000 after acquiring an additional 276,073 shares in the last quarter. Institutional investors and hedge funds own 67.18% of the company’s stock.
A number of equities research analysts recently issued reports on SLGN shares. Zacks Investment Research upgraded Silgan from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Monday, December 31st. TheStreet upgraded Silgan from a “c+” rating to a “b” rating in a research report on Tuesday, February 5th. BidaskClub upgraded Silgan from a “hold” rating to a “buy” rating in a research report on Wednesday, January 30th. ValuEngine upgraded Silgan from a “strong sell” rating to a “sell” rating in a research report on Monday, December 17th. Finally, Barclays lowered their price objective on Silgan from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $28.45.
Silgan (NASDAQ:SLGN) last released its earnings results on Tuesday, January 29th. The industrial products company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Silgan had a return on equity of 26.82% and a net margin of 5.03%. As a group, sell-side analysts anticipate that Silgan Holdings Inc. will post 2.17 earnings per share for the current fiscal year.
In related news, VP Robert B. Lewis sold 18,700 shares of the stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $25.18, for a total value of $470,866.00. Following the transaction, the vice president now owns 361,723 shares of the company’s stock, valued at $9,108,185.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 25,040 shares of company stock worth $630,205. 30.32% of the stock is owned by insiders.
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Silgan Company Profile
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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