Insider Holder Move: Greg Horrigan, an Insider in Silgan Holdings Inc. (NASDAQ:SLGN), Unloaded 434374 shares of the Company

November 23, 2016 - By Nellie Frank

Insider Holder Move: Greg Horrigan, an Insider in Silgan Holdings Inc. (NASDAQ:SLGN), Unloaded 434374 shares of the Company

Greg Horrigan Insider Sell

Silgan Holdings Inc director and an insider Greg Horrigan not a long ago made a sale of 434,374 company shares having a total value $22,044,481 at an avg stock price per share of $50.8. The regulatory filing shows that Greg Horrigan now holds roughly 12.54% of the Connecticut-based company’s total market capitalization

Silgan Holdings Inc. (NASDAQ:SLGN) Ratings Coverage

Out of 10 analysts covering Silgan Holdings Inc. (NASDAQ:SLGN), 2 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 20% are positive. $60.0 is the highest target while $50 is the lowest. The $53 average target is 6.19% above today’s ($49.91) stock price. Silgan Holdings Inc. has been the topic of 14 analyst reports since September 15, 2015 according to StockzIntelligence Inc. The rating was maintained by Citigroup with “Neutral” on Tuesday, July 19. The company was upgraded on Thursday, January 21 by BMO Capital Markets. The stock of Silgan Holdings Inc. (NASDAQ:SLGN) earned “Underperform” rating by Bank of America on Friday, March 18. The stock has “Outperform” rating given by Robert W. Baird on Tuesday, January 5. Wells Fargo upgraded the stock to “Outperform” rating in Tuesday, January 19 report. On Monday, October 26 the stock rating was maintained by Barclays Capital with “Equal Weight”. Macquarie Research initiated the shares of SLGN in a report on Tuesday, November 10 with “Neutral” rating. The company was initiated on Tuesday, September 13 by JP Morgan. Goldman Sachs initiated Silgan Holdings Inc. (NASDAQ:SLGN) on Thursday, May 12 with “Neutral” rating. The rating was downgraded by Zacks to “Sell” on Monday, September 21.

Insitutional Activity: The institutional sentiment decreased to 1.3 in Q2 2016. Its down 0.05, from 1.35 in 2016Q1. The ratio is negative, as 23 funds sold all Silgan Holdings Inc. shares owned while 52 reduced positions. 17 funds bought stakes while 84 increased positions. They now own 40.53 million shares or 0.02% more from 40.52 million shares in 2016Q1.

Ig Investment has 14,443 shares for 0% of their US portfolio. Kennedy Cap Incorporated holds 0.11% or 109,628 shares in its portfolio. Eulav Asset accumulated 223,800 shares or 0.63% of the stock. The New York-based Metropolitan Life Insurance Ny has invested 0.02% in Silgan Holdings Inc. (NASDAQ:SLGN). Parallax Volatility Advisers Ltd Partnership accumulated 0% or 3 shares. Moreover, Swiss Bank has 0.01% invested in Silgan Holdings Inc. (NASDAQ:SLGN) for 70,700 shares. The Texas-based Carlson Cap Limited Partnership has invested 0.43% in Silgan Holdings Inc. (NASDAQ:SLGN). Fuller And Thaler Asset accumulated 780 shares or 0% of the stock. 1832 Asset Management L P has 359 shares for 0% of their US portfolio. State Board Of Administration Of Florida Retirement Systems holds 52,647 shares or 0.01% of its portfolio. Orrstown Fincl Service has invested 0% of its portfolio in Silgan Holdings Inc. (NASDAQ:SLGN). Moreover, Aristotle Boston Ltd Limited Liability Company has 0.73% invested in Silgan Holdings Inc. (NASDAQ:SLGN) for 62,756 shares. Cap holds 0.01% or 576,300 shares in its portfolio. Martingale Asset Mgmt Limited Partnership last reported 0.01% of its portfolio in the stock. The New York-based Blackrock has invested 0% in Silgan Holdings Inc. (NASDAQ:SLGN).

Insider Transactions: Since May 25, 2016, the stock had 0 buys, and 2 insider sales for $107,243 net activity. Shares for $48,049 were sold by Prinzen B Frederik on Thursday, August 18. 600 shares were sold by Andreacchi Anthony P, worth $30,432.

About 164,096 shares traded hands. Silgan Holdings Inc. (NASDAQ:SLGN) has declined 5.73% since April 21, 2016 and is downtrending. It has underperformed by 11.06% the S&P500.

Silgan Holdings Inc. is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products. The company has a market cap of $3.04 billion. The Firm operates through three divisions: metal container, closures and plastic container. It has a 19.43 P/E ratio. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products.

According to Zacks Investment Research, “SILGAN HOLDINGS is a holding company. Through its wholly owned subsidiaries, the company is engaged in the packaging industry and has three business units: Metal Food Container Business, Plastic Container Business and Specialty Packaging Business.”

Analysts await Silgan Holdings Inc. (NASDAQ:SLGN) to report earnings on February, 7. They expect $0.49 EPS, up 2.08% or $0.01 from last year’s $0.48 per share. SLGN’s profit will be $29.85M for 25.46 P/E if the $0.49 EPS becomes a reality. After $1.23 actual EPS reported by Silgan Holdings Inc. for the previous quarter, Wall Street now forecasts -60.16% negative EPS growth.

SLGN Company Profile

Silgan Holdings Inc. (Silgan), incorporated on April 6, 1989, is a maker of rigid packaging for shelf-stable food and other consumer goods products. The Firm operates through three divisions: metal container, closures and plastic container. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products. It operates approximately 90 manufacturing plants in North America, Europe, Asia and South America.

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