Silgan Holdings Inc. (SLGN) Sees Strong Trading Volume
Silgan Holdings Inc. (NASDAQ:SLGN) saw unusually-high trading volume on Friday . Approximately 279,896 shares were traded during 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.
SLGN has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Silgan Holdings from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, June 28th. BMO Capital Markets downgraded shares of Silgan Holdings from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $58.00 to $47.00 in a report on Wednesday, June 8th. Citigroup Inc. lowered their price target on shares of Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, August 2nd. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $53.00 price target on shares of Silgan Holdings in a report on Wednesday, June 1st. Finally, Deutsche Bank AG reissued a “hold” rating and set a $50.00 price target on shares of Silgan Holdings in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Silgan Holdings presently has a consensus rating of “Hold” and a consensus price target of $52.50.
The company has a market capitalization of $2.92 billion and a P/E ratio of 18.76. The firm has a 50-day moving average price of $50.45 and a 200-day moving average price of $51.30.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $874.60 million for the quarter, compared to analyst estimates of $895.15 million. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. On average, equities analysts predict that Silgan Holdings Inc. will post $2.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.41%.
In related news, VP Anthony P. Andreacchi sold 600 shares of Silgan Holdings stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $50.72, for a total value of $30,432.00. Following the transaction, the vice president now directly owns 9,741 shares in the company, valued at approximately $494,063.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP B Frederik Prinzen sold 1,000 shares of Silgan Holdings stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $48.05, for a total transaction of $48,050.00. The disclosure for this sale can be found here.
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.
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