Silgan (NYSE:SLGN – Free Report) had its price target raised by Robert W. Baird from $60.00 to $62.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.
Other equities analysts also recently issued research reports about the company. Royal Bank of Canada increased their price objective on Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. increased their price target on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday. Raymond James upped their price objective on shares of Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America raised their target price on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.22.
Get Our Latest Stock Report on Silgan
Silgan Stock Performance
Silgan (NYSE:SLGN – Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.77% and a net margin of 4.72%. Research analysts expect that Silgan will post 4.09 EPS for the current fiscal year.
Silgan Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.19 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.36%. Silgan’s dividend payout ratio is 29.46%.
Hedge Funds Weigh In On Silgan
Several large investors have recently bought and sold shares of SLGN. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Silgan by 7.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company’s stock worth $290,000 after purchasing an additional 361 shares during the period. Verdence Capital Advisors LLC increased its stake in Silgan by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock valued at $390,000 after acquiring an additional 388 shares during the period. AQR Capital Management LLC raised its holdings in Silgan by 1.1% in the 2nd quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock valued at $1,594,000 after acquiring an additional 421 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Silgan by 5.7% in the 3rd quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 456 shares during the period. Finally, KBC Group NV grew its holdings in shares of Silgan by 27.7% during the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 494 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.
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.
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