Xponance Inc. Sells 940 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Xponance Inc. trimmed its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 9.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,779 shares of the industrial products company’s stock after selling 940 shares during the quarter. Xponance Inc.’s holdings in Silgan were worth $372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in Silgan by 118.0% in the 1st quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company’s stock worth $9,755,000 after purchasing an additional 108,942 shares during the period. Dimensional Fund Advisors LP boosted its stake in Silgan by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock worth $125,404,000 after purchasing an additional 204,384 shares during the period. Choreo LLC bought a new position in Silgan in the 2nd quarter worth approximately $498,000. Seven Eight Capital LP bought a new position in Silgan in the 1st quarter worth approximately $1,129,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in Silgan by 17.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock worth $4,769,000 after purchasing an additional 13,289 shares during the period. 70.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SLGN. Robert W. Baird increased their target price on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Citigroup increased their target price on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and increased their target price for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. StockNews.com upgraded Silgan from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company increased their target price on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Silgan Stock Down 1.0 %

Shares of SLGN opened at $51.98 on Wednesday. The company has a market cap of $5.55 billion, a PE ratio of 18.24, a P/E/G ratio of 1.50 and a beta of 0.67. The business has a fifty day moving average of $50.36 and a 200 day moving average of $47.44. Silgan Holdings Inc. has a 52-week low of $38.11 and a 52-week high of $52.84. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the company earned $0.83 earnings per share. Silgan’s revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts expect that Silgan Holdings Inc. will post 3.66 EPS for the current year.

Silgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.46%. Silgan’s payout ratio is 26.67%.

Insiders Place Their Bets

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction on Monday, August 5th. The stock was 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 in the company, valued at $563,714.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.39% of the company’s stock.

Silgan 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.