Silgan Holdings Inc. (NASDAQ:SLGN) Short Interest Down 9.3% in October

Silgan Holdings Inc. (NASDAQ:SLGN) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 2,340,000 shares, a decrease of 9.3% from the September 30th total of 2,580,000 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average trading volume of 365,600 shares, the short-interest ratio is currently 6.4 days.

Shares of Silgan stock traded down $0.04 during trading hours on Friday, reaching $30.95. 549,700 shares of the company’s stock were exchanged, compared to its average volume of 448,252. The business has a fifty day moving average of $30.35 and a two-hundred day moving average of $30.12. The company has a market capitalization of $3.43 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.87 and a beta of 0.76. Silgan has a 1 year low of $22.24 and a 1 year high of $31.69. The company has a quick ratio of 0.27, a current ratio of 1.01 and a debt-to-equity ratio of 1.87.

Silgan (NASDAQ:SLGN) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $0.76 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.76. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Silgan had a net margin of 4.37% and a return on equity of 26.05%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. As a group, research analysts predict that Silgan will post 2.16 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.11 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.44 annualized dividend and a yield of 1.42%. Silgan’s dividend payout ratio (DPR) is 21.15%.

SLGN has been the subject of a number of research reports. Zacks Investment Research lowered shares of Silgan from a “hold” rating to a “sell” rating and set a $32.00 target price for the company. in a report on Tuesday, October 15th. ValuEngine lowered shares of Silgan from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, BidaskClub raised shares of Silgan from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $33.67.

In other Silgan news, Director John W. Alden sold 2,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $29.71, for a total transaction of $59,420.00. Following the completion of the transaction, the director now directly owns 67,331 shares in the company, valued at $2,000,404.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 30.32% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Krane Funds Advisors LLC acquired a new stake in Silgan during the second quarter worth approximately $26,000. Quest Capital Management Inc. ADV acquired a new stake in Silgan during the third quarter worth approximately $36,000. C M Bidwell & Associates Ltd. acquired a new stake in Silgan during the second quarter worth approximately $40,000. Point72 Asset Management L.P. acquired a new stake in Silgan during the second quarter worth approximately $40,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Silgan during the second quarter worth approximately $51,000. 66.07% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Company Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic 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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