Silgan Holdings Inc. (NYSE:SLGN – Get Free Report) has been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $55.44.
Several analysts recently issued reports on SLGN shares. Robert W. Baird upgraded shares of Silgan from a “neutral” rating to an “outperform” rating and set a $53.00 target price for the company in a research report on Thursday, July 27th. StockNews.com initiated coverage on shares of Silgan in a research report on Wednesday, August 23rd. They issued a “hold” rating for the company. Bank of America dropped their price target on shares of Silgan from $64.00 to $59.00 in a research report on Monday, July 10th. Citigroup dropped their price target on shares of Silgan from $56.00 to $55.00 in a research report on Monday, July 10th. Finally, Raymond James dropped their target price on shares of Silgan from $55.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, July 27th.
Insider Buying and Selling
Institutional Trading of Silgan
Hedge funds have recently added to or reduced their stakes in the company. Machina Capital S.A.S. purchased a new position in Silgan in the first quarter valued at approximately $28,000. Signaturefd LLC increased its stake in Silgan by 234.0% in the first quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 379 shares during the last quarter. Eagle Bay Advisors LLC grew its position in shares of Silgan by 151.1% during the second quarter. Eagle Bay Advisors LLC now owns 836 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 503 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Silgan during the fourth quarter worth approximately $54,000. Finally, Bessemer Group Inc. grew its position in shares of Silgan by 1,087.9% during the first quarter. Bessemer Group Inc. now owns 1,176 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 1,077 shares during the last quarter. Institutional investors and hedge funds own 66.24% of the company’s stock.
Silgan Price Performance
Shares of NYSE:SLGN opened at $43.98 on Friday. The stock has a market cap of $4.84 billion, a PE ratio of 15.54, a PEG ratio of 2.42 and a beta of 0.78. The company’s fifty day moving average is $45.08 and its 200 day moving average is $47.91. Silgan has a 52 week low of $40.97 and a 52 week high of $55.41. The company has a quick ratio of 0.77, a current ratio of 1.44 and a debt-to-equity ratio of 1.79.
Silgan (NYSE:SLGN – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.08). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.54 billion. Silgan had a return on equity of 23.35% and a net margin of 5.01%. Silgan’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the business earned $1.08 EPS. Research analysts anticipate that Silgan will post 3.49 earnings per share for the current year.
Silgan Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, August 31st. Silgan’s dividend payout ratio is currently 25.44%.
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, and beauty products, as well as capping/sealing equipment and detection systems.
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