Silgan (NYSE:SLGN) Given New $57.00 Price Target at JPMorgan Chase & Co.

Silgan (NYSE:SLGN) had its price objective lifted by JPMorgan Chase & Co. from $53.00 to $57.00 in a research report sent to investors on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

Several other research analysts have also recently commented on the company. Truist Financial increased their price target on Silgan from $63.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada lifted their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Wells Fargo & Company upped their target price on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday. Raymond James lifted their price target on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.22.

Silgan Price Performance

Shares of SLGN opened at $56.08 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. Silgan has a twelve month low of $41.14 and a twelve month high of $58.14. The stock has a market capitalization of $5.99 billion, a P/E ratio of 21.74, a P/E/G ratio of 1.34 and a beta of 0.71. The company has a 50 day moving average of $53.67 and a 200-day moving average of $51.80.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.77%. As a group, equities research analysts forecast that Silgan will post 4.09 EPS for the current fiscal year.

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Monday, December 2nd. Silgan’s payout ratio is 29.46%.

Institutional Investors Weigh In On Silgan

A number of institutional investors have recently modified their holdings of SLGN. FMR LLC raised its stake in Silgan by 87.7% in the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock worth $329,619,000 after purchasing an additional 2,932,680 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Silgan during the third quarter worth approximately $11,422,000. Two Sigma Advisers LP raised its position in shares of Silgan by 202.3% in the third quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company’s stock valued at $13,015,000 after buying an additional 165,900 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Silgan by 11.7% in the third quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock valued at $78,509,000 after buying an additional 157,160 shares during the period. Finally, Millennium Management LLC grew its position in Silgan by 62.5% during the second quarter. Millennium Management LLC now owns 322,482 shares of the industrial products company’s stock worth $13,651,000 after buying an additional 124,020 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

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.