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

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $53.13.

A number of research analysts have issued reports on SLGN shares. JPMorgan Chase & Co. lifted their price objective on Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a research note on Thursday, February 1st. Truist Financial lifted their price objective on Silgan from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Wells Fargo & Company lifted their target price on Silgan from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Citigroup lifted their target price on Silgan from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Finally, Raymond James lifted their target price on Silgan from $52.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st.

Insider Buying and Selling

In related news, VP B Frederik Prinzen sold 4,684 shares of Silgan stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $205,580.76. Following the completion of the sale, the vice president now owns 8,613 shares of the company’s stock, valued at $378,024.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.08% of the stock is currently owned by corporate insiders.

Institutional Trading of Silgan

Hedge funds have recently bought and sold shares of the stock. Principal Securities Inc. bought a new stake in Silgan during the fourth quarter valued at about $30,000. Quent Capital LLC lifted its position in shares of Silgan by 94.9% in the fourth quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 505 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Silgan by 92.4% in the third quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 538 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Silgan in the third quarter valued at about $70,000. Finally, Blue Trust Inc. lifted its position in shares of Silgan by 4,440.4% in 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 in the last quarter. Institutional investors own 70.25% of the company’s stock.

Silgan Trading Up 0.2 %

SLGN opened at $47.32 on Friday. The business has a 50 day moving average of $45.83 and a 200-day moving average of $43.93. The stock has a market cap of $5.05 billion, a PE ratio of 15.88, a PEG ratio of 2.56 and a beta of 0.68. Silgan has a 52 week low of $38.11 and a 52 week high of $54.16. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 1.35.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Silgan had a return on equity of 20.29% and a net margin of 5.44%. Equities research analysts predict that Silgan will post 3.67 earnings per share for the current fiscal year.

Silgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.61%. This is a positive change from Silgan’s previous quarterly dividend of $0.18. Silgan’s payout ratio is presently 25.50%.

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.