Louisiana State Employees Retirement System Trims Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Louisiana State Employees Retirement System lowered its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,500 shares of the industrial products company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Silgan were worth $1,181,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State of Michigan Retirement System raised its holdings in Silgan by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 19,900 shares of the industrial products company’s stock valued at $966,000 after acquiring an additional 500 shares during the period. Retirement Systems of Alabama grew its position in shares of Silgan by 0.3% in the first quarter. Retirement Systems of Alabama now owns 101,639 shares of the industrial products company’s stock valued at $4,936,000 after purchasing an additional 268 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Silgan by 123.4% during the 1st quarter. BNP Paribas Financial Markets now owns 36,218 shares of the industrial products company’s stock valued at $1,759,000 after purchasing an additional 20,005 shares during the period. Nordea Investment Management AB lifted its holdings in Silgan by 118.0% during the 1st quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company’s stock worth $9,755,000 after purchasing an additional 108,942 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in Silgan in the 1st quarter worth about $194,000. 70.25% of the stock is owned by institutional investors.

Silgan Stock Performance

NYSE SLGN opened at $52.64 on Friday. The company has a market capitalization of $5.62 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.26 and a beta of 0.67. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 0.52. Silgan Holdings Inc. has a 52-week low of $40.01 and a 52-week high of $52.84. The company has a fifty day moving average of $51.26 and a 200-day moving average of $48.11.

Silgan (NYSE:SLGN) last issued its quarterly earnings results 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 firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $1.16 EPS. As a group, equities research analysts predict that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Tuesday, September 3rd. Silgan’s payout ratio is currently 27.54%.

Insiders Place Their Bets

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SLGN. Wells Fargo & Company upped their price target on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Royal Bank of Canada increased their price objective on Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Robert W. Baird boosted their target price on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.43.

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