Silgan Holdings Inc. (NYSE:SLGN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $57.00.

Several research firms have recently weighed in on SLGN. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research note on Saturday. Truist Financial reiterated a “buy” rating and set a $59.00 price target (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Robert W. Baird boosted their price objective on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Citigroup raised their price target on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price objective on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st.

Insider Buying and Selling

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s 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 completion of the transaction, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Silgan

A number of hedge funds have recently added to or reduced their stakes in SLGN. Blue Trust Inc. raised its position in Silgan by 256.6% in the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after buying an additional 426 shares during the last quarter. Principal Securities Inc. purchased a new stake in Silgan in the fourth quarter worth approximately $30,000. Versant Capital Management Inc raised its stake 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 buying an additional 1,107 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Silgan by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after buying an additional 613 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Silgan by 69.7% in the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after buying an additional 462 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Stock Up 1.5 %

Shares of Silgan stock opened at $51.27 on Tuesday. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.46 and a beta of 0.67. The stock’s 50-day moving average is $48.84 and its 200 day moving average is $46.85. 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 one year low of $38.11 and a one year high of $52.84.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, beating 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 firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the firm posted $0.83 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Silgan will post 3.66 EPS for the current year.

Silgan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, September 3rd. Silgan’s dividend payout ratio (DPR) is presently 26.67%.

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.