Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 19.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,138,858 shares of the industrial products company’s stock after selling 1,243,179 shares during the period. JPMorgan Chase & Co. owned 4.81% of Silgan worth $269,790,000 as of its most recent SEC filing.

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

Silgan Stock Down 1.6 %

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

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

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Monday, December 2nd. Silgan’s dividend payout ratio is presently 27.54%.

Analyst Upgrades and Downgrades

SLGN has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.14.

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.