Silgan (NYSE:SLGN) Price Target Raised to $63.00 at Royal Bank of Canada

Silgan (NYSE:SLGN) had its price target increased by Royal Bank of Canada from $58.00 to $63.00 in a report issued on Thursday,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Separately, StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.14.

Silgan Trading Down 0.5 %

Shares of NYSE:SLGN opened at $51.92 on Thursday. Silgan has a 1 year low of $41.14 and a 1 year high of $58.14. The firm has a fifty day moving average price of $53.89 and a 200 day moving average price of $50.04. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $5.54 billion, a PE ratio of 18.81, a P/E/G ratio of 1.44 and a beta of 0.69.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 EPS. Analysts expect that Silgan will post 3.6 EPS for the current fiscal year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.46%. Silgan’s dividend payout ratio is 27.54%.

Hedge Funds Weigh In On Silgan

Several large investors have recently added to or reduced their stakes in SLGN. FMR LLC boosted its position in shares of Silgan by 87.7% during the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock valued at $329,619,000 after acquiring an additional 2,932,680 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in Silgan during the second quarter valued at approximately $19,666,000. Weiss Asset Management LP bought a new stake in shares of Silgan in the 3rd quarter valued at approximately $11,422,000. Dimensional Fund Advisors LP raised its holdings in shares of 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 worth $125,404,000 after buying an additional 204,384 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Silgan by 202.3% during the 3rd quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company’s stock worth $13,015,000 after buying an additional 165,900 shares during the period. 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.