Silgan Holdings Inc. (NYSE:SLGN) Receives $53.13 Consensus Target Price from Analysts

Silgan Holdings Inc. (NYSE:SLGN) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $53.13.

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Citigroup raised their price objective on shares of Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. raised their price objective on shares of Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a research report on Thursday, February 1st. Truist Financial raised their price objective on shares of Silgan from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, Raymond James raised their price objective on shares of Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st.

Insider Transactions at Silgan

In other news, VP B Frederik Prinzen sold 4,684 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $43.89, for a total value of $205,580.76. Following the completion of the sale, the vice president now directly owns 8,613 shares of the company’s stock, valued at $378,024.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Silgan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLGN. Wellington Management Group LLP raised its position in shares of Silgan by 43.0% in the third quarter. Wellington Management Group LLP now owns 4,220,003 shares of the industrial products company’s stock valued at $181,924,000 after purchasing an additional 1,269,349 shares during the period. JPMorgan Chase & Co. raised its position in shares of Silgan by 20.9% in the third quarter. JPMorgan Chase & Co. now owns 6,053,086 shares of the industrial products company’s stock valued at $260,949,000 after purchasing an additional 1,047,558 shares during the period. Norges Bank bought a new position in shares of Silgan in the fourth quarter valued at approximately $41,921,000. Bernzott Capital Advisors bought a new position in shares of Silgan in the third quarter valued at approximately $6,795,000. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Silgan by 9.9% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,269,176 shares of the industrial products company’s stock valued at $54,714,000 after purchasing an additional 114,849 shares during the period. Institutional investors own 70.25% of the company’s stock.

Silgan Stock Up 0.2 %

SLGN stock opened at $47.32 on Friday. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 1.35. Silgan has a fifty-two week low of $38.11 and a fifty-two week high of $54.16. The firm’s 50-day simple moving average is $45.83 and its 200 day simple moving average is $43.93. The stock has a market cap of $5.05 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 2.56 and a beta of 0.68.

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

Silgan Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from Silgan’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, March 13th. Silgan’s dividend payout ratio is 25.50%.

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.