Silgan Holdings’ (SLGN) “Buy” Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets reiterated their buy rating on shares of Silgan Holdings Inc. (NASDAQ:SLGN) in a research report report published on Monday. BMO Capital Markets currently has a $34.00 price target on the industrial products company’s stock.
A number of other analysts have also recently issued reports on SLGN. ValuEngine upgraded Silgan Holdings from a buy rating to a strong-buy rating in a research report on Wednesday, May 31st. Deutsche Bank AG restated a hold rating and set a $30.00 price objective (down from $60.00) on shares of Silgan Holdings in a research report on Monday, June 5th. BidaskClub cut Silgan Holdings from a buy rating to a hold rating in a research report on Tuesday, June 13th. Zacks Investment Research cut Silgan Holdings from a buy rating to a hold rating in a research report on Tuesday, June 27th. Finally, Goldman Sachs Group, Inc. (The) lowered Silgan Holdings from a neutral rating to a sell rating and set a $30.00 price target on the stock. in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Silgan Holdings has an average rating of Hold and a consensus price target of $32.33.
Shares of Silgan Holdings (NASDAQ:SLGN) opened at 29.34 on Monday. The company has a market capitalization of $3.24 billion, a PE ratio of 23.30 and a beta of 0.54. Silgan Holdings has a 1-year low of $23.58 and a 1-year high of $32.50. The firm has a 50-day moving average price of $30.02 and a 200-day moving average price of $30.61.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. Silgan Holdings’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. Equities analysts anticipate that Silgan Holdings will post $1.66 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, August 30th. Silgan Holdings’s dividend payout ratio is 29.03%.
In related news, VP Robert B. Lewis sold 7,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $29.70, for a total value of $207,900.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Anthony P. Andreacchi sold 2,192 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $30.18, for a total value of $66,154.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,698 shares of company stock worth $597,429. 33.10% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can boosted its stake in Silgan Holdings by 89.3% in the second quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 1,847 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new position in Silgan Holdings in the second quarter worth $127,000. Envestnet Asset Management Inc. boosted its stake in Silgan Holdings by 9.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 207 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Silgan Holdings in the second quarter worth $140,000. Finally, Pacer Advisors Inc. boosted its stake in Silgan Holdings by 1.0% in the first 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 in the last quarter. 67.00% of the stock is currently owned by institutional investors and hedge funds.
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.
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