Oppenheimer & Co. Inc. Lowers Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Oppenheimer & Co. Inc. lowered its holdings in Silgan Holdings Inc. (NYSE:SLGNGet Rating) by 45.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,410 shares of the industrial products company’s stock after selling 6,973 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Silgan were worth $348,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Quent Capital LLC raised its stake in shares of Silgan by 110.6% during the 1st quarter. Quent Capital LLC now owns 537 shares of the industrial products company’s stock worth $25,000 after buying an additional 282 shares during the last quarter. Pinebridge Investments L.P. grew its holdings in Silgan by 439.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,078 shares of the industrial products company’s stock valued at $45,000 after buying an additional 878 shares during the period. Meeder Asset Management Inc. purchased a new stake in Silgan in the 1st quarter valued at about $74,000. Captrust Financial Advisors grew its holdings in Silgan by 65.2% in the 1st quarter. Captrust Financial Advisors now owns 1,895 shares of the industrial products company’s stock valued at $88,000 after buying an additional 748 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Silgan during the 1st quarter worth about $89,000. Institutional investors and hedge funds own 68.21% of the company’s stock.

Insider Activity at Silgan

In related news, CFO Robert B. Lewis sold 11,082 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $46.75, for a total value of $518,083.50. Following the completion of the transaction, the chief financial officer now owns 225,095 shares in the company, valued at approximately $10,523,191.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Robert B. Lewis sold 11,082 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $46.75, for a total value of $518,083.50. Following the completion of the transaction, the chief financial officer now owns 225,095 shares in the company, valued at approximately $10,523,191.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert B. Lewis sold 3,918 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $47.43, for a total value of $185,830.74. Following the sale, the chief financial officer now owns 236,177 shares of the company’s stock, valued at $11,201,875.11. The disclosure for this sale can be found here. 24.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on SLGN. Bank of America boosted their price target on Silgan from $54.00 to $56.00 in a research report on Thursday, October 13th. Royal Bank of Canada upped their price target on Silgan from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, October 28th. Wells Fargo & Company upped their price objective on Silgan from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 8th. StockNews.com assumed coverage on Silgan in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, KeyCorp increased their price target on Silgan from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.71.

Silgan Trading Down 0.1 %

Shares of SLGN stock opened at $49.83 on Friday. The stock has a 50-day simple moving average of $45.45 and a 200 day simple moving average of $44.28. Silgan Holdings Inc. has a fifty-two week low of $38.59 and a fifty-two week high of $50.41. The stock has a market capitalization of $5.49 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.50 and a beta of 0.78. The company has a quick ratio of 0.88, a current ratio of 1.39 and a debt-to-equity ratio of 1.92.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.28%. Silgan’s dividend payout ratio (DPR) is 17.78%.

About Silgan

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Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products in North America, Europe, and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom 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 (NYSE:SLGN)

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