Silgan Holdings Inc. (NYSE:SLGN) Receives $53.13 Average PT from Analysts

Silgan Holdings Inc. (NYSE:SLGN) has been given an average recommendation of “Moderate Buy” by the seven research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $53.13.

SLGN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a report on Thursday, February 1st. Royal Bank of Canada increased their price objective on Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Raymond James lifted their target price on shares of Silgan from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Truist Financial upped their target price on shares of Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Finally, Wells Fargo & Company raised their price target on shares of Silgan from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th.

Silgan Stock Down 0.6 %

Silgan stock opened at $47.12 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. The stock has a market capitalization of $5.03 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68. The business has a 50 day simple moving average of $45.71 and a 200-day simple moving average of $43.86. Silgan has a 12 month low of $38.11 and a 12 month high of $54.92.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.39 billion. Silgan had a net margin of 5.44% and a return on equity of 20.29%. On average, analysts anticipate that Silgan will post 3.67 EPS for the current fiscal year.

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.19 per share. 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 annualized dividend and a dividend yield of 1.61%. Silgan’s payout ratio is presently 25.50%.

Insider Buying and Selling

In other news, VP B Frederik Prinzen sold 4,684 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $43.89, for a total transaction of $205,580.76. Following the completion of the sale, the vice president now owns 8,613 shares in the company, valued at approximately $378,024.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On Silgan

A number of hedge funds have recently modified their holdings of SLGN. JPMorgan Chase & Co. increased its holdings in Silgan by 20.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,053,086 shares of the industrial products company’s stock valued at $260,949,000 after purchasing an additional 1,047,558 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Silgan by 5.8% in 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 buying an additional 246,813 shares during the period. Dimensional Fund Advisors LP lifted its stake 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 acquiring an additional 33,460 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Silgan by 4.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,417,003 shares of the industrial products company’s stock valued at $117,370,000 after acquiring an additional 93,040 shares during the period. Finally, Victory Capital Management Inc. grew its position in Silgan by 0.4% in the 4th quarter. Victory Capital Management Inc. now owns 2,152,882 shares of the industrial products company’s stock valued at $97,418,000 after acquiring an additional 8,349 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Company Profile

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.