PNC Financial Services Group Inc. Has $568,000 Holdings in Silgan Holdings Inc. (NYSE:SLGN)

PNC Financial Services Group Inc. lessened its stake in Silgan Holdings Inc. (NYSE:SLGNFree Report) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,552 shares of the industrial products company’s stock after selling 972 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Silgan were worth $568,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in Silgan by 43.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,220,003 shares of the industrial products company’s stock valued at $181,924,000 after purchasing an additional 1,269,349 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Silgan by 20.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,053,086 shares of the industrial products company’s stock valued at $260,949,000 after purchasing an additional 1,047,558 shares during the last quarter. Norges Bank acquired a new stake in Silgan during the 4th quarter valued at $41,921,000. Fuller & Thaler Asset Management Inc. lifted its holdings in Silgan by 9.9% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,269,176 shares of the industrial products company’s stock valued at $54,714,000 after purchasing an additional 114,849 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Silgan by 119.5% during the 3rd quarter. New York State Common Retirement Fund now owns 157,920 shares of the industrial products company’s stock valued at $6,808,000 after purchasing an additional 85,977 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Insider Buying and Selling

In related news, VP B Frederik Prinzen sold 4,684 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $205,580.76. Following the transaction, the vice president now owns 8,613 shares in the company, valued at $378,024.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Silgan news, VP B Frederik Prinzen sold 4,684 shares of Silgan stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $205,580.76. Following the transaction, the vice president now owns 8,613 shares in the company, valued at $378,024.57. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jay A. Martin sold 4,228 shares of Silgan stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $47.13, for a total value of $199,265.64. Following the completion of the transaction, the senior vice president now owns 144,161 shares in the company, valued at approximately $6,794,307.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,335 shares of company stock worth $3,009,806. Company insiders own 1.39% of the company’s stock.

Silgan Stock Up 1.7 %

SLGN opened at $47.25 on Friday. Silgan Holdings Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $49.72. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.62 and a current ratio of 1.04. The company has a market capitalization of $5.05 billion, a P/E ratio of 16.58, a P/E/G ratio of 1.59 and a beta of 0.69. The stock has a fifty day moving average of $47.18 and a 200-day moving average of $45.04.

Silgan (NYSE:SLGNGet Free Report) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. Silgan had a return on equity of 19.26% and a net margin of 5.25%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The company’s revenue was down 7.1% on a year-over-year basis. On average, equities analysts expect that Silgan Holdings Inc. will post 3.66 EPS for the current year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Monday, June 3rd. Silgan’s payout ratio is currently 26.67%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company cut their price target on Silgan from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

View Our Latest Research Report on SLGN

Silgan Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Silgan (NYSE:SLGN)

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