Silgan (NYSE:SLGN) Cut to Hold at StockNews.com

StockNews.com cut shares of Silgan (NYSE:SLGN) from a buy rating to a hold rating in a report published on Wednesday morning.

Other research analysts have also issued reports about the company. Citigroup upped their price objective on Silgan from $50.00 to $60.00 and gave the company a buy rating in a report on Thursday, August 1st. Truist Financial restated a buy rating and issued a $59.00 price target (up from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Robert W. Baird lifted their price objective on shares of Silgan from $53.00 to $60.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. Wells Fargo & Company increased their target price on shares of Silgan from $54.00 to $58.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upgraded shares of Silgan from an underweight rating to a neutral rating and lifted their price target for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $57.00.

Silgan Price Performance

Shares of SLGN opened at $51.57 on Wednesday. The firm has a market capitalization of $5.51 billion, a PE ratio of 18.09, a PEG ratio of 1.48 and a beta of 0.67. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64. The company’s 50-day moving average is $50.68 and its 200-day moving average is $47.75. 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 results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the firm earned $0.83 EPS. The business’s revenue was down 3.2% on a year-over-year basis. Equities analysts forecast that Silgan will post 3.66 EPS for the current year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.47%. Silgan’s dividend payout ratio (DPR) is 26.67%.

Insider Buying and Selling at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the sale, the vice president now owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SLGN. Nordea Investment Management AB increased its position in Silgan by 118.0% during the 1st quarter. Nordea Investment Management AB now owns 201,258 shares of the industrial products company’s stock worth $9,755,000 after purchasing an additional 108,942 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Silgan by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock worth $125,404,000 after buying an additional 204,384 shares in the last quarter. Choreo LLC bought a new position in shares of Silgan in the 2nd quarter valued at $498,000. Seven Eight Capital LP acquired a new stake in shares of Silgan during the 1st quarter valued at $1,129,000. Finally, State Board of Administration of Florida Retirement System grew its position in Silgan by 17.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock worth $4,769,000 after acquiring an additional 13,289 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

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.