Wells Fargo & Company Increases Silgan (NYSE:SLGN) Price Target to $55.00

Silgan (NYSE:SLGN) had its price objective upped by Wells Fargo & Company from $52.00 to $55.00 in a report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

A number of other research analysts have also recently commented on SLGN. JPMorgan Chase & Co. increased their target price on shares of Silgan from $39.00 to $46.00 and gave the stock an underweight rating in a report on Thursday, February 1st. Raymond James increased their target price on shares of Silgan from $52.00 to $54.00 and gave the stock an outperform rating in a report on Thursday, February 1st. Royal Bank of Canada increased their target price on shares of Silgan from $49.00 to $51.00 and gave the stock an outperform rating in a report on Thursday, February 1st. Truist Financial increased their target price on shares of Silgan from $52.00 to $56.00 and gave the stock a buy rating in a report on Thursday, January 4th. Finally, Citigroup increased their target price on shares of Silgan from $47.00 to $51.00 and gave the stock a neutral rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $53.13.

Silgan Trading Down 2.5 %

SLGN stock opened at $47.47 on Thursday. Silgan has a 52 week low of $38.11 and a 52 week high of $54.92. The company’s 50-day simple moving average is $45.42 and its 200 day simple moving average is $43.67. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.61 and a current ratio of 1.02. The company has a market capitalization of $5.07 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 2.65 and a beta of 0.68.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. Silgan had a net margin of 5.44% and a return on equity of 20.29%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.39 billion. As a group, sell-side analysts anticipate that Silgan will post 3.67 earnings per share for the current year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Silgan’s previous quarterly dividend of $0.18. Silgan’s dividend payout ratio is currently 25.50%.

Insider Buying and Selling at Silgan

In other news, VP B Frederik Prinzen sold 4,684 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $43.89, for a total transaction of $205,580.76. Following the completion of the sale, the vice president now owns 8,613 shares of the company’s stock, valued at approximately $378,024.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.08% of the company’s stock.

Institutional Trading of Silgan

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Silgan by 3.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,323,963 shares of the industrial products company’s stock worth $105,159,000 after purchasing an additional 66,837 shares in the last quarter. Barclays PLC lifted its holdings in shares of Silgan by 203.9% in the 3rd quarter. Barclays PLC now owns 118,564 shares of the industrial products company’s stock worth $5,109,000 after purchasing an additional 79,551 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Silgan by 94.9% in the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 505 shares in the last quarter. Robeco Schweiz AG lifted its holdings in shares of Silgan by 24.5% in the 3rd quarter. Robeco Schweiz AG now owns 132,000 shares of the industrial products company’s stock worth $5,691,000 after purchasing an additional 26,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Silgan by 9.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 132,550 shares of the industrial products company’s stock worth $5,714,000 after purchasing an additional 11,669 shares in the last quarter. Institutional investors and hedge funds 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.