Brokerages Set Silgan Holdings Inc. (NYSE:SLGN) PT at $57.00

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $57.00.

SLGN has been the subject of several research reports. Citigroup boosted their price target on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. 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 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 report on Thursday, August 1st. Finally, Robert W. Baird lifted their price objective on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st.

Silgan Stock Up 0.6 %

Shares of SLGN stock opened at $51.90 on Friday. Silgan has a twelve month low of $38.11 and a twelve month high of $52.84. The stock has a market cap of $5.54 billion, a P/E ratio of 18.21, a P/E/G ratio of 1.48 and a beta of 0.67. The stock has a 50 day moving average of $50.75 and a 200 day moving average of $47.79. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 EPS. As a group, sell-side analysts expect that Silgan will post 3.66 EPS for the current year.

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. 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 1.46%. Silgan’s dividend payout ratio is presently 26.67%.

Insider Activity

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the company’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 transaction of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares in the company, valued at $563,714.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

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

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.