Silgan Holdings Inc. (NYSE:SLGN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $53.13.

SLGN has been the topic of several research reports. Truist Financial raised their target price on Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Citigroup raised their target price on Silgan from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Wells Fargo & Company raised their target price on Silgan from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Royal Bank of Canada raised their price objective on Silgan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. raised their price objective on Silgan from $39.00 to $46.00 and gave the stock an “underweight” rating in a research note on Thursday, February 1st.

Insider Transactions at Silgan

In other news, VP B Frederik Prinzen sold 4,684 shares of Silgan stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $205,580.76. Following the completion of the transaction, the vice president now owns 8,613 shares in the company, valued at approximately $378,024.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 13.08% of the company’s stock.

Hedge Funds Weigh In On Silgan

A number of large investors have recently bought and sold shares of the business. Advisor Partners II LLC boosted its holdings in Silgan by 4.2% during the 1st quarter. Advisor Partners II LLC now owns 5,590 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 224 shares during the period. Pathstone Family Office LLC boosted its holdings in Silgan by 1.4% during the 4th quarter. Pathstone Family Office LLC now owns 19,370 shares of the industrial products company’s stock valued at $1,004,000 after acquiring an additional 259 shares during the period. Captrust Financial Advisors boosted its holdings in Silgan by 13.9% during the 2nd quarter. Captrust Financial Advisors now owns 2,158 shares of the industrial products company’s stock valued at $89,000 after acquiring an additional 263 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Silgan by 4.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,686 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 275 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in Silgan by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 37,043 shares of the industrial products company’s stock valued at $1,676,000 after acquiring an additional 360 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Silgan Trading Up 1.2 %

Silgan stock opened at $47.42 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.02 and a quick ratio of 0.61. Silgan has a one year low of $38.11 and a one year high of $54.92. The stock has a market capitalization of $5.06 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 2.55 and a beta of 0.68. The business’s fifty day moving average is $45.68 and its 200 day moving average is $43.81.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Silgan had a return on equity of 20.29% and a net margin of 5.44%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.39 billion. On average, sell-side analysts predict that Silgan will post 3.67 EPS for the current year.

Silgan Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.19 dividend. This is a boost from Silgan’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, March 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.60%. Silgan’s payout ratio is 25.50%.

About Silgan

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.