BMO Capital Markets Reaffirms Buy Rating for Silgan Holdings Inc. (SLGN)

BMO Capital Markets reaffirmed their buy rating on shares of Silgan Holdings Inc. (NASDAQ:SLGN) in a research note released on Monday. The brokerage currently has a $34.00 price objective on the industrial products company’s stock.

Several other equities research analysts have also recently commented on SLGN. KeyCorp reissued a hold rating on shares of Silgan Holdings in a research report on Friday, August 25th. BidaskClub raised shares of Silgan Holdings from a strong sell rating to a sell rating in a research report on Monday, August 14th. ValuEngine cut shares of Silgan Holdings from a buy rating to a hold rating in a research report on Friday, September 1st. Bank of America Corporation cut shares of Silgan Holdings from a buy rating to a neutral rating and set a $35.00 price target on the stock. in a research report on Thursday, July 27th. Finally, Robert W. Baird cut shares of Silgan Holdings from an outperform rating to a neutral rating and set a $35.00 price target on the stock. in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $32.33.

Silgan Holdings (SLGN) opened at 29.15 on Monday. The firm has a market capitalization of $3.22 billion, a P/E ratio of 23.15 and a beta of 0.54. The stock has a 50 day moving average of $29.98 and a 200-day moving average of $30.60. Silgan Holdings has a 1-year low of $23.58 and a 1-year high of $32.50.

Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities research analysts anticipate that Silgan Holdings will post $1.66 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a dividend of $0.09 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.36 annualized dividend and a dividend yield of 1.24%. Silgan Holdings’s dividend payout ratio is presently 29.03%.

In other news, VP Robert B. Lewis sold 7,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $29.70, for a total transaction of $207,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Anthony P. Andreacchi sold 2,192 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $30.18, for a total transaction of $66,154.56. The disclosure for this sale can be found here. Insiders have sold a total of 19,698 shares of company stock worth $597,429 over the last 90 days. 33.10% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in shares of Silgan Holdings by 1.0% during the 1st quarter. Pacer Advisors Inc. now owns 2,732 shares of the industrial products company’s stock worth $162,000 after purchasing an additional 27 shares during the last quarter. Utah Retirement Systems increased its stake in shares of Silgan Holdings by 1.5% during the 1st quarter. Utah Retirement Systems now owns 6,752 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 100 shares during the last quarter. US Bancorp DE increased its stake in shares of Silgan Holdings by 3.1% during the 1st quarter. US Bancorp DE now owns 3,381 shares of the industrial products company’s stock worth $200,000 after purchasing an additional 101 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Silgan Holdings by 1.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 14,350 shares of the industrial products company’s stock worth $852,000 after purchasing an additional 200 shares during the last quarter. Finally, State Treasurer State of Michigan increased its stake in shares of Silgan Holdings by 1.3% during the 1st quarter. State Treasurer State of Michigan now owns 15,231 shares of the industrial products company’s stock worth $904,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 67.00% of the company’s stock.

About Silgan Holdings

Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.

Analyst Recommendations for Silgan Holdings (NASDAQ:SLGN)

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