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

Silgan Holdings Inc. (NYSE:SLGN) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $57.00.

Several analysts have recently commented on SLGN shares. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $46.00 to $53.00 in a research report on Thursday. Wells Fargo & Company raised their target price on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada increased their price objective on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial reiterated a “buy” rating and set a $59.00 price objective (up from $56.00) on shares of Silgan in a report on Thursday. Finally, Robert W. Baird increased their price objective on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday.

Insider Transactions at Silgan

In related news, VP B Frederik Prinzen sold 4,093 shares of Silgan stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $47.84, for a total transaction of $195,809.12. Following the sale, the vice president now directly owns 4,520 shares of the company’s stock, valued at $216,236.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP B Frederik Prinzen sold 4,093 shares of Silgan stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $47.84, for a total transaction of $195,809.12. Following the sale, the vice president now directly owns 4,520 shares of the company’s stock, valued at $216,236.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jay A. Martin sold 4,228 shares of Silgan stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $47.13, for a total value of $199,265.64. Following the sale, the senior vice president now directly owns 144,161 shares in the company, valued at $6,794,307.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,651 shares of company stock worth $2,804,226. Company insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Silgan

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted 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 worth $202,123,000 after acquiring an additional 246,813 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Silgan by 1.2% in 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 shares of Silgan by 6.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company’s stock worth $109,248,000 after acquiring an additional 163,853 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of 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 worth $97,418,000 after acquiring an additional 8,349 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in shares of Silgan by 20.6% in the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock worth $79,776,000 after acquiring an additional 322,511 shares in the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Stock Performance

SLGN opened at $51.29 on Monday. The firm has a market cap of $5.48 billion, a PE ratio of 18.00, a P/E/G ratio of 1.73 and a beta of 0.67. The company has a quick ratio of 0.62, a current ratio of 1.04 and a debt-to-equity ratio of 1.33. The business has a fifty day simple moving average of $45.24 and a 200-day simple moving average of $45.52. Silgan has a fifty-two week low of $38.11 and a fifty-two week high of $52.84.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. Silgan had a return on equity of 19.42% and a net margin of 5.24%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $0.83 EPS. As a group, equities analysts predict that Silgan will post 3.66 EPS for the current fiscal year.

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.48%. Silgan’s payout ratio is presently 26.67%.

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.