Nordea Investment Management AB Has $9.76 Million Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Nordea Investment Management AB increased its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 118.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 201,258 shares of the industrial products company's stock after purchasing an additional 108,942 shares during the quarter. Nordea Investment Management AB owned 0.19% of Silgan worth $9,755,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLGN. BNP Paribas Financial Markets lifted its stake in Silgan by 123.4% during the first quarter. BNP Paribas Financial Markets now owns 36,218 shares of the industrial products company's stock worth $1,759,000 after purchasing an additional 20,005 shares during the last quarter. Retirement Systems of Alabama lifted its stake in Silgan by 0.3% during 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 during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Silgan by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 304,950 shares of the industrial products company's stock worth $14,808,000 after acquiring an additional 7,615 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Silgan by 4.6% during the first quarter. Verdence Capital Advisors LLC now owns 7,013 shares of the industrial products company's stock valued at $341,000 after purchasing an additional 306 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Silgan by 2.6% during the first quarter. Louisiana State Employees Retirement System now owns 23,300 shares of the industrial products company's stock valued at $1,131,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Insider Buying and Selling at Silgan

In other Silgan news, VP B Frederik Prinzen sold 4,093 shares of the firm's stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $47.84, for a total value of $195,809.12. Following the completion of the sale, the vice president now owns 4,520 shares in the company, valued at approximately $216,236.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Robert B. Lewis sold 30,000 shares of Silgan stock in a transaction on Friday, May 10th. The stock was sold at an average price of $47.08, for a total value of $1,412,400.00. Following the completion of the sale, the executive vice president now directly owns 172,133 shares of the company's stock, valued at approximately $8,104,021.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP B Frederik Prinzen sold 4,093 shares of Silgan stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.84, for a total value of $195,809.12. Following the completion of the sale, the vice president now directly owns 4,520 shares of the company's stock, valued at $216,236.80. The disclosure for this sale can be found here. Insiders have sold 59,651 shares of company stock valued at $2,804,226 in the last 90 days. 1.39% of the stock is currently owned by insiders.

Silgan Stock Performance

SLGN traded down $0.35 during midday trading on Tuesday, reaching $42.33. The company's stock had a trading volume of 499,182 shares, compared to its average volume of 578,371. The stock has a market cap of $4.52 billion, a P/E ratio of 14.98, a PEG ratio of 1.39 and a beta of 0.67. The company has a fifty day simple moving average of $45.31 and a 200 day simple moving average of $45.29. The company has a current ratio of 1.04, a quick ratio of 0.62 and a debt-to-equity ratio of 1.33. Silgan Holdings Inc. has a twelve month low of $38.11 and a twelve month high of $49.72.

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

Silgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Monday, June 3rd. Silgan's dividend payout ratio (DPR) is currently 26.67%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Citigroup raised Silgan from a "neutral" rating to a "buy" rating and set a $50.00 price objective for the company in a research note on Monday. 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 research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.88.

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.