Silgan Holdings Inc. (SLGN) Sees Strong Trading Volume
Silgan Holdings Inc. (NASDAQ:SLGN) saw unusually-strong trading volume on Friday . Approximately 279,896 shares were traded during mid-day trading, a decline of 2% from the previous session’s volume of 285,404 shares.The stock last traded at $48.01 and had previously closed at $48.19.
Several equities analysts have recently weighed in on SLGN shares. BMO Capital Markets reiterated a “buy” rating on shares of Silgan Holdings in a research note on Thursday, April 28th. Zacks Investment Research upgraded shares of Silgan Holdings from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Tuesday, June 28th. Deutsche Bank AG reiterated a “hold” rating and issued a $50.00 target price on shares of Silgan Holdings in a research note on Thursday, May 19th. Wells Fargo & Co. downgraded shares of Silgan Holdings from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 28th. Finally, Citigroup Inc. reduced their target price on shares of Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Silgan Holdings currently has a consensus rating of “Hold” and an average price target of $52.50.
The company has a 50-day moving average price of $50.54 and a 200-day moving average price of $51.33. The company has a market capitalization of $2.92 billion and a price-to-earnings ratio of 18.76.
Silgan Holdings (NASDAQ:SLGN) last posted its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. During the same quarter in the prior year, the company posted $0.71 EPS. The company had revenue of $874.60 million for the quarter, compared to the consensus estimate of $895.15 million. Silgan Holdings’s revenue was down 4.3% on a year-over-year basis. Equities analysts expect that Silgan Holdings Inc. will post $2.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.41%. The ex-dividend date is Tuesday, August 30th.
In other Silgan Holdings news, VP Anthony P. Andreacchi sold 600 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $50.72, for a total transaction of $30,432.00. Following the transaction, the vice president now owns 9,741 shares in the company, valued at approximately $494,063.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Silgan Holdings Inc (Silgan) is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products. The Company operates through three segments: metal container, closures and plastic container. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products.