JPMorgan Chase & Co. Issues Positive Forecast for Silgan (NYSE:SLGN) Stock Price

Silgan (NYSE:SLGN) had its price target increased by JPMorgan Chase & Co. from $53.00 to $57.00 in a research report report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the stock. Truist Financial boosted their target price on shares of Silgan from $63.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Bank of America increased their price objective on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company increased their price target on Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Raymond James lifted 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. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.22.

Silgan Stock Down 1.9 %

Shares of 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 52-week low of $41.14 and a 52-week high of $58.14. The business’s 50 day simple moving average is $53.64 and its two-hundred day simple moving average is $51.92. The firm has a market cap of $5.88 billion, a P/E ratio of 21.36, a PEG 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 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts forecast that Silgan will post 4.09 EPS for the current fiscal year.

Silgan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, December 2nd. Silgan’s payout ratio is 29.46%.

Hedge Funds Weigh In On Silgan

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