Silgan Holdings Inc. (NYSE:SLGN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Silgan Holdings Inc. (NYSE:SLGNGet Free Report) have been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $52.00.

Several equities analysts have issued reports on the stock. Citigroup upgraded shares of Silgan from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Monday. Wells Fargo & Company lowered their target price on Silgan from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd.

Read Our Latest Stock Report on Silgan

Silgan Trading Up 0.5 %

Shares of Silgan stock opened at $42.56 on Thursday. The firm’s 50 day moving average is $45.18 and its 200 day moving average is $45.25. The firm has a market capitalization of $4.54 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. Silgan has a 1 year low of $38.11 and a 1 year high of $49.72. The company has a current ratio of 1.04, a quick ratio of 0.62 and a debt-to-equity ratio of 1.33.

Silgan (NYSE:SLGNGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.37 billion. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. Equities research analysts forecast that Silgan will post 3.66 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, June 3rd. Silgan’s dividend payout ratio (DPR) is presently 26.67%.

Insider Activity

In other news, EVP Robert B. Lewis sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $47.08, for a total transaction of $1,412,400.00. Following the completion of the sale, the executive vice president now owns 172,133 shares of the company’s stock, valued at approximately $8,104,021.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Robert B. Lewis sold 30,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $47.08, for a total transaction of $1,412,400.00. Following the transaction, the executive vice president now owns 172,133 shares of the company’s stock, valued at approximately $8,104,021.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jay A. Martin sold 4,228 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $47.13, for a total value of $199,265.64. Following the completion of the sale, the senior vice president now directly owns 144,161 shares of the company’s stock, valued at $6,794,307.93. The disclosure for this sale can be found here. Insiders have sold 59,651 shares of company stock valued at $2,804,226 in the last ninety days. 1.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Silgan

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of Silgan by 20.9% in the third quarter. JPMorgan Chase & Co. now owns 6,053,086 shares of the industrial products company’s stock valued at $260,949,000 after buying an additional 1,047,558 shares in the last quarter. Wellington Management Group LLP boosted its stake in Silgan by 5.8% during the 4th quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock valued at $202,123,000 after purchasing an additional 246,813 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Silgan by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,804,254 shares of the industrial products company’s stock worth $126,895,000 after purchasing an additional 33,460 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Silgan by 4.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,417,003 shares of the industrial products company’s stock worth $117,370,000 after purchasing an additional 93,040 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Silgan by 0.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,152,882 shares of the industrial products company’s stock valued at $97,418,000 after purchasing an additional 8,349 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors.

About Silgan

(Get Free Report

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.

Further Reading

Analyst Recommendations for Silgan (NYSE:SLGN)

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