Principal Financial Group Inc. Sells 82,449 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Principal Financial Group Inc. trimmed its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 30.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 188,063 shares of the industrial products company’s stock after selling 82,449 shares during the quarter. Principal Financial Group Inc. owned about 0.18% of Silgan worth $9,873,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in shares of Silgan in the second quarter valued at approximately $70,000. Venturi Wealth Management LLC increased its stake in Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 963 shares during the period. GAMMA Investing LLC raised its holdings in Silgan by 51.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock valued at $93,000 after acquiring an additional 606 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Silgan during the 2nd quarter valued at $104,000. Finally, KBC Group NV grew its holdings in shares of Silgan by 27.7% during the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 494 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Trading Down 1.6 %

SLGN opened at $51.73 on Tuesday. The company’s 50 day moving average is $54.00 and its 200-day moving average is $50.38. The company has a market cap of $5.52 billion, a P/E ratio of 18.74, a PEG ratio of 1.44 and a beta of 0.69. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm posted $1.16 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts predict that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Monday, December 2nd. Silgan’s dividend payout ratio (DPR) is currently 27.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada upped their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.14.

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.