Silgan (NYSE:SLGN) Reaches New 12-Month High – Still a Buy?

Silgan Holdings Inc. (NYSE:SLGN) shares reached a new 52-week high on Wednesday . The company traded as high as $57.86 and last traded at $57.82, with a volume of 8299 shares trading hands. The stock had previously closed at $57.17.

Analyst Ratings Changes

A number of research firms recently commented on SLGN. Citigroup lifted their price target on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird increased their target price on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Truist Financial restated a “buy” rating and set a $59.00 target price (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Finally, Royal Bank of Canada lifted their target price on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan Stock Up 0.6 %

The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. The company has a market cap of $6.14 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.50 and a beta of 0.67. The company has a fifty day moving average price of $52.40 and a 200 day moving average price of $49.00.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. As a group, analysts anticipate that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Monday, December 2nd. Silgan’s payout ratio is currently 27.54%.

Institutional Trading of Silgan

Several institutional investors have recently added to or reduced their stakes in SLGN. Blue Trust Inc. lifted its stake in shares of Silgan by 256.6% in the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 426 shares during the last quarter. Versant Capital Management Inc raised its position in Silgan by 2,838.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 1,107 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Silgan by 109.9% during the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 613 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 963 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Silgan during the 2nd quarter valued at approximately $70,000. 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.