Silgan (NYSE:SLGN) Shares Cross Below 200 Day Moving Average – Time to Sell?

Silgan Holdings Inc. (NYSE:SLGN)’s stock price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $41.36 and traded as low as $40.27. Silgan shares last traded at $41.1940, with a volume of 1,113,120 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on SLGN. Wells Fargo & Company reiterated an “overweight” rating and issued a $52.00 target price (down from $56.00) on shares of Silgan in a research report on Monday, October 19th. Bank of America boosted their price objective on shares of Silgan from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Truist Financial increased their price objective on Silgan from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Weiss Ratings downgraded Silgan from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, October 13th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $59.00 price objective on shares of Silgan in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.70.

Silgan Stock Performance

The company has a quick ratio of 0.37, a current ratio of 0.52 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $4.35 billion, a P/E ratio of 16.61, a P/E/G ratio of 2.48 and a beta of 0.64. The business has a fifty day moving average price of $38.30 and a 200-day moving average price of $41.36.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Thursday, October 29th. The industrial products company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Silgan had a net margin of 3.90% and a return on equity of 16.73%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period last year, the firm posted $1.22 EPS. Silgan’s revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts expect that Silgan Holdings Inc. will post 3.87 EPS for the current year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a $0.21 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. Silgan’s dividend payout ratio is currently 33.87%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Buckland Partners Management Co LLC bought a new stake in shares of Silgan during the second quarter valued at approximately $6,439,000. Bank of America Corp DE purchased a new stake in shares of Silgan in the second quarter worth about $101,368,000. Quantinno Capital Management LP lifted its holdings in shares of Silgan by 15.1% in the first quarter. Quantinno Capital Management LP now owns 179,341 shares of the industrial products company’s stock valued at $6,958,000 after buying an additional 23,485 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Silgan in the 2nd quarter valued at $1,291,000. Finally, Skylands Capital LLC grew its position in Silgan by 97.6% during the 3rd quarter. Skylands Capital LLC now owns 81,500 shares of the industrial products company’s stock worth $2,832,000 after acquiring an additional 40,250 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Silgan Company Profile

Silgan Holdings Inc (NYSE: SLGN) is a manufacturer of rigid packaging products used by consumer goods companies. The company produces metal containers, plastic containers and specialty closures for food, beverage, personal care, household, healthcare, industrial and other products.

Silgan’s metal packaging business supplies cans and containers for food, pet food, paint, chemicals, aerosols and other applications. Its plastic packaging operations manufacture bottles, tubs and other containers, while its closures business produces metal and plastic caps, lids and dispensing systems for a range of consumer and industrial products.

Founded in 1987, Silgan serves customers primarily across North America and Europe through a network of manufacturing facilities.