A number of other equities research analysts have also issued reports on SLGN. Zacks Investment Research upgraded Silgan from a hold rating to a buy rating and set a $34.00 price target for the company in a research note on Wednesday, April 10th. KeyCorp reissued a hold rating on shares of Silgan in a report on Wednesday, April 24th. TheStreet raised shares of Silgan from a c+ rating to a b rating in a report on Tuesday, February 5th. Finally, ValuEngine raised shares of Silgan from a sell rating to a hold rating in a report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Silgan has a consensus rating of Hold and an average price target of $29.25.
SLGN stock traded up $0.24 during trading on Wednesday, reaching $30.33. The company’s stock had a trading volume of 8,242 shares, compared to its average volume of 478,398. Silgan has a 1 year low of $22.24 and a 1 year high of $30.90. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.62 and a current ratio of 1.15. The firm has a market capitalization of $3.31 billion, a PE ratio of 14.54, a PEG ratio of 1.77 and a beta of 0.82.
Silgan (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. Silgan had a return on equity of 26.74% and a net margin of 5.04%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $0.42 EPS. Silgan’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, sell-side analysts forecast that Silgan will post 2.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, May 31st. Silgan’s dividend payout ratio (DPR) is presently 21.15%.
In related news, VP Robert B. Lewis sold 75,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $30.01, for a total value of $2,250,750.00. Following the completion of the transaction, the vice president now owns 252,117 shares of the company’s stock, valued at approximately $7,566,031.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anthony J. Allott sold 63,490 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $28.49, for a total transaction of $1,808,830.10. Following the completion of the transaction, the insider now directly owns 972,075 shares of the company’s stock, valued at approximately $27,694,416.75. The disclosure for this sale can be found here. Insiders have sold a total of 325,494 shares of company stock valued at $9,653,216 in the last three months. Insiders own 30.32% of the company’s stock.
Several large investors have recently made changes to their positions in SLGN. Oregon Public Employees Retirement Fund raised its position in Silgan by 2,370.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 724,449 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 695,121 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Silgan in the 4th quarter worth about $55,000. Ladenburg Thalmann Financial Services Inc. raised its position in Silgan by 121.8% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,100 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 1,153 shares during the period. Macquarie Group Ltd. purchased a new stake in Silgan in the 1st quarter worth about $96,000. Finally, Assetmark Inc. raised its position in Silgan by 197.5% in the 1st quarter. Assetmark Inc. now owns 4,567 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 3,032 shares during the period. 66.59% of the stock is owned by hedge funds and other institutional investors.
Silgan Company Profile
Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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