Silgan Holdings Inc. (NYSE:SLGN) Receives $64.22 Consensus Price Target from Analysts

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been given a consensus rating of “Moderate Buy” by the nine analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $64.22.

Several research analysts have recently weighed in on the stock. Raymond James upped their target price on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Robert W. Baird upped their target price on shares of Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on shares of Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Royal Bank of Canada increased their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company increased their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th.

Silgan Price Performance

SLGN opened at $49.83 on Tuesday. The company has a market cap of $5.32 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.27 and a beta of 0.71. The company has a 50 day moving average of $52.89 and a two-hundred day moving average of $52.80. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. Silgan has a 52-week low of $41.14 and a 52-week high of $58.14.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. On average, analysts expect that Silgan will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 17th. Silgan’s dividend payout ratio is 31.01%.

Insiders Place Their Bets

In related news, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $54.73, for a total value of $6,841,250.00. Following the sale, the chief executive officer now owns 227,332 shares of the company’s stock, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the completion of the sale, the executive vice president now directly owns 152,133 shares in the company, valued at approximately $8,096,518.26. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate insiders.

Institutional Trading of Silgan

Large investors have recently modified their holdings of the company. Nicola Wealth Management LTD. grew its position in Silgan by 24.4% in the 3rd quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock valued at $5,087,000 after buying an additional 19,000 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in Silgan in the 3rd quarter valued at about $2,975,000. BNP Paribas Financial Markets grew its position in Silgan by 144.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock valued at $2,884,000 after buying an additional 32,432 shares in the last quarter. Versor Investments LP grew its position in Silgan by 112.7% in the 3rd quarter. Versor Investments LP now owns 10,208 shares of the industrial products company’s stock valued at $536,000 after buying an additional 5,408 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new position in Silgan in the 4th quarter valued at about $620,000. Institutional investors and hedge funds 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.