StockNews.com Lowers Silgan (NYSE:SLGN) to Hold

StockNews.com downgraded shares of Silgan (NYSE:SLGN) from a buy rating to a hold rating in a report released on Thursday.

Several other analysts have also issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Silgan from $54.00 to $58.00 and gave the company an overweight rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised Silgan from an underweight rating to a neutral rating and boosted their price target for the company from $46.00 to $53.00 in a report on Thursday, August 1st. Truist Financial reaffirmed a buy rating and set a $59.00 price target (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. Royal Bank of Canada increased their price objective on shares of Silgan from $51.00 to $55.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. Finally, Robert W. Baird lifted their target price on shares of Silgan from $53.00 to $60.00 and gave the company an outperform rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $57.00.

Silgan Stock Performance

Shares of SLGN stock opened at $51.52 on Thursday. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31. The company has a 50 day moving average price of $50.62 and a 200-day moving average price of $47.54. Silgan has a 52 week low of $38.11 and a 52 week high of $52.84. The firm has a market capitalization of $5.50 billion, a PE ratio of 18.08, a P/E/G ratio of 1.50 and a beta of 0.67.

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

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Tuesday, September 3rd. Silgan’s dividend payout ratio is currently 26.67%.

Insider Transactions at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the transaction, the vice president now owns 11,495 shares of the company’s stock, valued at $563,714.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Silgan

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Daiwa Securities Group Inc. increased its holdings in shares of Silgan by 0.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock valued at $1,696,000 after acquiring an additional 218 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Silgan by 5.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock valued at $218,000 after buying an additional 250 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Silgan by 2.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock valued at $453,000 after acquiring an additional 267 shares during the period. Retirement Systems of Alabama boosted its holdings 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 worth $4,936,000 after buying an additional 268 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Silgan by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 37,043 shares of the industrial products company’s stock worth $1,676,000 after acquiring an additional 360 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

Silgan Company Profile

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.