Silgan (NYSE:SLGN) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Silgan (NYSE:SLGN) from a buy rating to a hold rating in a report issued on Saturday morning.

SLGN has been the topic of several other research reports. Wells Fargo & Company lifted their price objective on shares of Silgan from $54.00 to $58.00 and gave the stock an overweight rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised Silgan from an underweight rating to a neutral rating and upped their price target for the company from $46.00 to $53.00 in a report on Thursday, August 1st. Citigroup raised their price objective on Silgan from $50.00 to $60.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Royal Bank of Canada boosted their target price on Silgan from $51.00 to $55.00 and gave the stock an outperform rating in a research report on Thursday, August 1st. Finally, Robert W. Baird increased their price target on Silgan from $53.00 to $60.00 and gave the company an outperform rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $57.00.

Silgan Price Performance

NYSE SLGN opened at $50.53 on Friday. The firm has a market capitalization of $5.40 billion, a PE ratio of 17.73, a P/E/G ratio of 1.44 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. Silgan has a 12 month low of $38.11 and a 12 month high of $52.84. The company’s 50 day simple moving average is $48.67 and its 200 day simple moving average is $46.78.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the business earned $0.83 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, equities research analysts forecast that Silgan will post 3.66 EPS for the current fiscal year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, September 3rd. Silgan’s payout ratio is 26.67%.

Insider Buying and Selling at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 11,495 shares in the company, valued at $563,714.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLGN. Sanctuary Advisors LLC acquired a new stake in Silgan during the second quarter valued at approximately $255,000. Aristides Capital LLC acquired a new stake in shares of Silgan in the second quarter valued at approximately $234,000. Quarry LP raised its position in shares of Silgan by 226.0% during the second quarter. Quarry LP now owns 3,589 shares of the industrial products company’s stock worth $152,000 after acquiring an additional 2,488 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Silgan by 13,482.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,124 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 3,101 shares during the period. Finally, Algert Global LLC acquired a new position in Silgan in the second quarter valued at approximately $363,000. 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.