Renaissance Technologies LLC Increases Stock Position in Silgan Holdings Inc. (NASDAQ:SLGN)

Renaissance Technologies LLC grew its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 184.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,110,280 shares of the industrial products company’s stock after acquiring an additional 720,400 shares during the quarter. Renaissance Technologies LLC owned about 1.00% of Silgan worth $33,975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLGN. LSV Asset Management boosted its holdings in shares of Silgan by 54.7% during the 2nd quarter. LSV Asset Management now owns 2,045,636 shares of the industrial products company’s stock valued at $62,596,000 after acquiring an additional 723,253 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Silgan during the 1st quarter valued at about $8,471,000. Prudential Financial Inc. boosted its holdings in shares of Silgan by 85.7% during the 2nd quarter. Prudential Financial Inc. now owns 409,720 shares of the industrial products company’s stock valued at $12,537,000 after acquiring an additional 189,030 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Silgan by 6.6% during the 2nd quarter. Wells Fargo & Company MN now owns 2,133,062 shares of the industrial products company’s stock valued at $65,272,000 after acquiring an additional 132,752 shares during the last quarter. Finally, BTIM Corp. boosted its holdings in shares of Silgan by 15.2% during the 2nd quarter. BTIM Corp. now owns 899,746 shares of the industrial products company’s stock valued at $27,533,000 after acquiring an additional 118,934 shares during the last quarter. 65.78% of the stock is currently owned by hedge funds and other institutional investors.

SLGN stock traded up $0.20 during mid-day trading on Friday, reaching $30.39. 5,783 shares of the stock traded hands, compared to its average volume of 292,848. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.49 and a current ratio of 0.98. Silgan Holdings Inc. has a one year low of $22.24 and a one year high of $31.69. The stock has a market capitalization of $3.33 billion, a PE ratio of 14.63, a PEG ratio of 1.78 and a beta of 0.79. The business has a 50-day moving average price of $30.05 and a two-hundred day moving average price of $29.84.

Silgan (NASDAQ:SLGN) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. Silgan had a net margin of 4.46% and a return on equity of 26.45%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. On average, equities analysts expect that Silgan Holdings Inc. will post 2.2 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, August 30th. Silgan’s dividend payout ratio (DPR) is 21.15%.

In other Silgan news, Director John W. Alden sold 2,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $29.71, for a total transaction of $59,420.00. Following the transaction, the director now owns 67,331 shares in the company, valued at $2,000,404.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas James Snyder sold 10,444 shares of the business’s stock in a transaction on 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.

A number of brokerages have recently issued reports on SLGN. BidaskClub downgraded shares of Silgan from a “hold” rating to a “sell” rating in a report on Tuesday. Citigroup raised their price objective on shares of Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $31.00 to $33.00 in a report on Wednesday, July 17th. Finally, ValuEngine downgraded shares of Silgan from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Silgan has a consensus rating of “Hold” and a consensus target price of $30.63.

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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