Silgan (NASDAQ:SLGN) Earns Maintains Rating from Raymond James

Raymond James restated their maintains rating on shares of Silgan (NASDAQ:SLGNGet Rating) in a research note published on Thursday morning, Benzinga reports.

A number of other brokerages also recently issued reports on SLGN. StockNews.com downgraded Silgan from a buy rating to a hold rating in a research note on Friday, April 29th. Citigroup raised their price objective on Silgan from $45.00 to $50.00 in a research note on Friday, April 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $49.89.

Silgan Trading Up 0.0 %

NASDAQ:SLGN opened at $44.50 on Thursday. The stock has a market cap of $4.93 billion, a P/E ratio of 13.36, a P/E/G ratio of 2.10 and a beta of 0.76. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.74 and a current ratio of 1.33. Silgan has a 1 year low of $37.10 and a 1 year high of $46.98. The stock has a 50-day simple moving average of $42.08 and a 200-day simple moving average of $43.33.

Silgan (NASDAQ:SLGNGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. Silgan had a return on equity of 25.33% and a net margin of 6.30%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts anticipate that Silgan will post 3.94 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.44%. The ex-dividend date was Tuesday, May 31st. Silgan’s payout ratio is 19.22%.

Institutional Investors Weigh In On Silgan

Hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System boosted its holdings in Silgan by 8.6% in the fourth quarter. New York State Teachers Retirement System now owns 108,469 shares of the industrial products company’s stock valued at $4,647,000 after acquiring an additional 8,619 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of Silgan by 27.2% during the fourth quarter. Brown Advisory Inc. now owns 25,877 shares of the industrial products company’s stock worth $1,109,000 after purchasing an additional 5,530 shares in the last quarter. State of Michigan Retirement System lifted its stake in shares of Silgan by 1.4% during the fourth quarter. State of Michigan Retirement System now owns 21,296 shares of the industrial products company’s stock worth $912,000 after purchasing an additional 300 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Silgan during the fourth quarter worth about $141,918,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Silgan by 4.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 66,555 shares of the industrial products company’s stock worth $2,851,000 after purchasing an additional 2,537 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

About Silgan

(Get Rating)

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products in North America, Europe, and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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Analyst Recommendations for Silgan (NASDAQ:SLGN)

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