Silgan Holdings Inc. (NYSE:SLGN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Silgan Holdings Inc. (NYSE:SLGN) have earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $57.00.

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company raised their target price on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial reaffirmed a “buy” rating and set a $59.00 price target (up previously from $56.00) on shares of Silgan in a research report on Thursday. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $46.00 to $53.00 in a report on Thursday. Finally, Citigroup upped their price objective on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday.

Insider Buying and Selling

In other news, VP B Frederik Prinzen sold 4,093 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.84, for a total transaction of $195,809.12. Following the completion of the transaction, the vice president now directly owns 4,520 shares in the company, valued at approximately $216,236.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP B Frederik Prinzen sold 4,093 shares of Silgan stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $47.84, for a total transaction 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 SEC, which is accessible through this hyperlink. Also, SVP Jay A. Martin sold 21,330 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $46.73, for a total value of $996,750.90. Following the transaction, the senior vice president now directly owns 165,989 shares of the company’s stock, valued at approximately $7,756,665.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,651 shares of company stock valued at $2,804,226. Company insiders own 1.39% of the company’s stock.

Institutional Trading of Silgan

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. grew its position in Silgan by 4,440.4% during the fourth quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 2,087 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Silgan by 94.9% during the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 505 shares during the last quarter. Boston Trust Walden Corp lifted its stake in Silgan by 0.7% in the fourth quarter. Boston Trust Walden Corp now owns 1,566,448 shares of the industrial products company’s stock worth $70,882,000 after purchasing an additional 10,532 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Silgan during the fourth quarter valued at about $299,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Silgan by 3.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,323,963 shares of the industrial products company’s stock worth $105,159,000 after buying an additional 66,837 shares during the period. 70.25% of the stock is owned by institutional investors.

Silgan Stock Performance

Shares of SLGN opened at $51.26 on Monday. The stock has a 50 day moving average of $45.24 and a 200 day moving average of $45.56. The company has a current ratio of 0.53, a quick ratio of 0.62 and a debt-to-equity ratio of 1.33. Silgan has a 12 month low of $38.11 and a 12 month high of $52.84. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.77 and a beta of 0.67.

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

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.48%. Silgan’s dividend payout ratio (DPR) is currently 26.67%.

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.