ExodusPoint Capital Management LP Has $560,000 Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

ExodusPoint Capital Management LP lowered its stake in Silgan Holdings Inc. (NYSE:SLGN) by 49.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,432 shares of the industrial products company’s stock after selling 10,129 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Silgan were worth $560,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SLGN. Shelton Capital Management acquired a new stake in Silgan in the 4th quarter valued at about $225,000. SG Americas Securities LLC raised its stake in Silgan by 228.7% in the 1st quarter. SG Americas Securities LLC now owns 23,447 shares of the industrial products company’s stock valued at $1,258,000 after acquiring an additional 16,313 shares during the period. Linden Thomas Advisory Services LLC raised its stake in Silgan by 4.9% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 9,269 shares of the industrial products company’s stock valued at $497,000 after acquiring an additional 437 shares during the period. Outfitter Financial LLC raised its stake in Silgan by 1.9% in the 1st quarter. Outfitter Financial LLC now owns 31,640 shares of the industrial products company’s stock valued at $1,698,000 after acquiring an additional 605 shares during the period. Finally, Boston Trust Walden Corp raised its stake in Silgan by 48.6% in the 1st quarter. Boston Trust Walden Corp now owns 1,425,884 shares of the industrial products company’s stock valued at $76,527,000 after acquiring an additional 466,104 shares during the period. Institutional investors and hedge funds own 66.24% of the company’s stock.

Silgan Trading Down 0.5 %

Shares of Silgan stock opened at $43.24 on Thursday. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 2.58 and a beta of 0.78. The company has a quick ratio of 0.77, a current ratio of 1.44 and a debt-to-equity ratio of 1.79. Silgan Holdings Inc. has a 12-month low of $40.97 and a 12-month high of $55.41. The firm’s 50-day moving average price is $45.55 and its two-hundred day moving average price is $48.31.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, July 26th. The industrial products company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.08). Silgan had a return on equity of 23.35% and a net margin of 5.01%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company earned $1.08 earnings per share. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, analysts forecast that Silgan Holdings Inc. will post 3.49 earnings per share for the current fiscal year.

Silgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, August 31st. Silgan’s payout ratio is 25.44%.

Insider Transactions at Silgan

In related news, Director Joseph M. Jordan sold 2,967 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $44.96, for a total transaction of $133,396.32. Following the completion of the transaction, the director now directly owns 29,437 shares in the company, valued at approximately $1,323,487.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Joseph M. Jordan sold 2,967 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $44.96, for a total value of $133,396.32. Following the completion of the transaction, the director now owns 29,437 shares of the company’s stock, valued at $1,323,487.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Lewis sold 10,031 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $44.18, for a total value of $443,169.58. Following the completion of the transaction, the executive vice president now directly owns 219,198 shares of the company’s stock, valued at approximately $9,684,167.64. The disclosure for this sale can be found here. Company insiders own 13.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SLGN. Bank of America dropped their price target on Silgan from $64.00 to $59.00 in a research note on Monday, July 10th. StockNews.com assumed coverage on Silgan in a research note on Wednesday, August 23rd. They issued a “hold” rating for the company. Raymond James reduced their price target on Silgan from $55.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, July 27th. Citigroup reduced their price target on Silgan from $56.00 to $55.00 in a research note on Monday, July 10th. Finally, Robert W. Baird upgraded shares of Silgan from a “neutral” rating to an “outperform” rating and set a $53.00 price objective for the company in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.44.

About Silgan

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, and beauty products, as well as capping/sealing equipment and detection systems.