Silgan’s (SLGN) “Buy” Rating Reiterated at Truist Financial

Truist Financial reiterated their buy rating on shares of Silgan (NYSE:SLGN) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $70.00 target price on the industrial products company’s stock, up from their previous target price of $69.00.

A number of other brokerages also recently commented on SLGN. Wells Fargo & Company upped their price objective on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank of Canada upped their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Raymond James lifted their price objective on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Silgan presently has a consensus rating of “Moderate Buy” and an average target price of $64.22.

Silgan Trading Down 1.9 %

NYSE SLGN opened at $55.10 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. Silgan has a one year low of $41.14 and a one year high of $58.14. The company has a 50-day simple moving average of $53.64 and a 200-day simple moving average of $51.92. The firm has a market capitalization of $5.88 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 19.77% and a net margin of 4.72%. On average, equities analysts forecast that Silgan will post 4.09 earnings per share for the current year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, December 2nd. Silgan’s dividend payout ratio (DPR) is presently 29.46%.

Institutional Investors Weigh In On Silgan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC lifted its holdings in Silgan by 37.8% in the 2nd quarter. Squarepoint Ops LLC now owns 45,109 shares of the industrial products company’s stock valued at $1,909,000 after acquiring an additional 12,367 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Silgan by 1.1% in the 2nd quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock worth $1,594,000 after purchasing an additional 421 shares in the last quarter. Millennium Management LLC lifted its stake in Silgan by 62.5% during the second quarter. Millennium Management LLC now owns 322,482 shares of the industrial products company’s stock valued at $13,651,000 after purchasing an additional 124,020 shares during the last quarter. Algert Global LLC bought a new stake in Silgan during the second quarter worth approximately $363,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Silgan by 13,482.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,124 shares of the industrial products company’s stock worth $132,000 after buying an additional 3,101 shares during the last quarter. 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.