PNC Financial Services Group Inc. Boosts Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

PNC Financial Services Group Inc. lifted its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 3.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 9,594 shares of the industrial products company’s stock after acquiring an additional 341 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Silgan were worth $490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Michigan Retirement System raised its stake in Silgan by 1.0% in the first quarter. State of Michigan Retirement System now owns 19,400 shares of the industrial products company’s stock worth $992,000 after buying an additional 200 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Silgan by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the industrial products company’s stock worth $1,160,000 after acquiring an additional 200 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Silgan by 5.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,760 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 210 shares during the last quarter. Aristeia Capital L.L.C. boosted its position in Silgan by 4.0% during the fourth quarter. Aristeia Capital L.L.C. now owns 5,488 shares of the industrial products company’s stock valued at $286,000 after purchasing an additional 212 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in Silgan by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 36,440 shares of the industrial products company’s stock valued at $1,897,000 after purchasing an additional 230 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

Insider Transactions at Silgan

In other news, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the sale, the executive vice president owned 153,378 shares in the company, valued at $8,576,897.76. This represents a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.13% of the company’s stock.

Silgan Trading Up 2.5%

NYSE:SLGN opened at $47.59 on Thursday. The company has a market capitalization of $5.09 billion, a P/E ratio of 16.94, a PEG ratio of 1.16 and a beta of 0.69. The company has a current ratio of 0.96, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. Silgan Holdings Inc. has a 12 month low of $44.37 and a 12 month high of $58.14. The firm has a fifty day simple moving average of $53.15 and a 200-day simple moving average of $52.62.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Silgan had a return on equity of 19.98% and a net margin of 4.90%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. On average, equities research analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.7%. Silgan’s dividend payout ratio (DPR) is currently 28.47%.

Analyst Upgrades and Downgrades

Several research firms have commented on SLGN. Raymond James Financial decreased their price target on shares of Silgan from $64.00 to $60.00 and set a “strong-buy” rating for the company in a research report on Thursday, July 31st. Wells Fargo & Company increased their target price on shares of Silgan from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Royal Bank Of Canada cut their price target on shares of Silgan from $64.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, August 1st. JPMorgan Chase & Co. upgraded Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price objective for the company in a report on Thursday, May 1st. Finally, Bank of America restated a “neutral” rating and set a $59.00 target price (up from $57.00) on shares of Silgan in a research note on Wednesday, July 9th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $62.44.

Silgan 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.