Silgan (NYSE:SLGN) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Silgan (NYSE:SLGN) from a hold rating to a buy rating in a report published on Friday morning.

SLGN has been the subject of a number of other reports. Citigroup boosted their target price on shares of Silgan from $50.00 to $60.00 and gave the stock a buy rating in a report on Thursday, August 1st. Truist Financial reissued a buy rating and set a $59.00 target price (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Robert W. Baird lifted their price target on shares of Silgan from $53.00 to $60.00 and gave the stock an outperform rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised Silgan from an underweight rating to a neutral rating and upped their price target for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. Finally, Wells Fargo & Company raised their price objective on Silgan from $54.00 to $58.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $57.00.

Silgan Price Performance

NYSE SLGN opened at $51.37 on Friday. The company has a market cap of $5.49 billion, a PE ratio of 18.02, a P/E/G ratio of 1.49 and a beta of 0.67. Silgan has a 52-week low of $38.11 and a 52-week high of $52.84. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06. The firm’s 50 day moving average price is $49.52 and its 200-day moving average price is $47.08.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted $0.83 EPS. Sell-side analysts forecast that Silgan will post 3.66 EPS for the current fiscal year.

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.48%. Silgan’s payout ratio is 26.67%.

Insider Transactions at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the completion of the transaction, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Silgan

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLGN. Principal Securities Inc. acquired a new stake in Silgan in the 4th quarter worth about $30,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Silgan by 4.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,686 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 275 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Silgan by 29.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,695 shares of the industrial products company’s stock worth $529,000 after purchasing an additional 2,639 shares in the last quarter. Brown Advisory Inc. raised its stake in Silgan by 268.3% in the 4th quarter. Brown Advisory Inc. now owns 32,359 shares of the industrial products company’s stock valued at $1,464,000 after purchasing an additional 23,574 shares during the last quarter. Finally, Norges Bank purchased a new position in Silgan in the 4th quarter valued at $41,921,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

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.