Silgan (NYSE:SLGN) Rating Lowered to Hold at StockNews.com

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

SLGN has been the subject of a number of other reports. Robert W. Baird raised their price objective on Silgan from $53.00 to $60.00 and gave the stock an outperform rating in a research report on Thursday, August 1st. Citigroup raised their price objective on Silgan from $50.00 to $60.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Royal Bank of Canada raised their price target on Silgan from $51.00 to $55.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. Wells Fargo & Company raised their price target on Silgan from $54.00 to $58.00 and gave the stock an overweight rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised Silgan from an underweight rating to a neutral rating and raised their price target for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $57.00.

Silgan Price Performance

NYSE:SLGN opened at $51.52 on Thursday. The business’s 50-day moving average price is $50.62 and its 200 day moving average price is $47.57. The firm has a market cap of $5.50 billion, a P/E ratio of 18.08, a PEG ratio of 1.50 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 quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31.

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

Silgan Dividend Announcement

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

Insider Activity at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction that occurred 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 directly owns 11,495 shares of the company’s stock, valued at $563,714.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.39% of the stock is owned by company insiders.

Institutional Trading of Silgan

Institutional investors have recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in shares of Silgan by 118.0% during the 1st quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company’s stock worth $9,755,000 after purchasing an additional 108,942 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Silgan by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock valued at $125,404,000 after buying an additional 204,384 shares in the last quarter. Choreo LLC acquired a new stake in Silgan in the 2nd quarter valued at $498,000. Seven Eight Capital LP acquired a new stake in Silgan in the 1st quarter valued at $1,129,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in Silgan by 17.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock valued at $4,769,000 after buying an additional 13,289 shares in the last quarter. Institutional investors and hedge funds 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.