Silgan Holdings Inc. (NYSE:SLGN) Given Consensus Rating of “Moderate Buy” by Brokerages

Silgan Holdings Inc. (NYSE:SLGN) 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

In related news, Director Joseph M. Jordan sold 2,967 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $44.96, for a total value of $133,396.32. Following the completion of the sale, the director now owns 29,437 shares of the company’s stock, valued at approximately $1,323,487.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Joseph M. Jordan sold 2,967 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $44.96, for a total transaction of $133,396.32. Following the completion of the sale, the director now owns 29,437 shares of the company’s stock, valued at $1,323,487.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert B. Lewis sold 10,031 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $44.18, for a total transaction of $443,169.58. Following the completion of the sale, the executive vice president now directly owns 219,198 shares of the company’s stock, valued at approximately $9,684,167.64. The disclosure for this sale can be found here. 13.08% of the stock is owned by insiders.

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) 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%.

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, and beauty products, as well as capping/sealing equipment and detection systems.