Silgan Holdings Inc. (NYSE:SLGN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Silgan Holdings Inc. (NYSE:SLGN) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $59.75.

Several research analysts recently weighed in on SLGN shares. Bank of America increased their target price on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Truist Financial increased their target price on Silgan from $63.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada increased their target price on Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th.

Silgan Price Performance

Shares of NYSE:SLGN opened at $52.62 on Monday. The business’s 50 day simple moving average is $53.84 and its 200-day simple moving average is $51.25. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.16 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. Silgan has a 12 month low of $41.14 and a 12 month high of $58.14.

Silgan (NYSE:SLGN) last posted 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). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business earned $1.16 EPS. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts forecast that Silgan will post 3.6 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued 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 1.44%. Silgan’s dividend payout ratio is currently 27.54%.

Institutional Trading of Silgan

Several large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of Silgan by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock valued at $125,404,000 after acquiring an additional 204,384 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Silgan by 21.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,312 shares of the industrial products company’s stock valued at $479,000 after acquiring an additional 2,029 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Silgan by 2.6% during 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 in the last quarter. Inspire Investing LLC grew its stake in shares of Silgan by 12.2% during the second quarter. Inspire Investing LLC now owns 8,286 shares of the industrial products company’s stock valued at $351,000 after acquiring an additional 902 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Silgan by 1.5% during the second quarter. Sei Investments Co. now owns 333,211 shares of the industrial products company’s stock valued at $14,105,000 after acquiring an additional 4,775 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

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.