Wells Fargo & Company Lowers Silgan (NYSE:SLGN) Price Target to $54.00

Silgan (NYSE:SLGN) had its target price decreased by Wells Fargo & Company from $55.00 to $54.00 in a research note published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

Several other research firms have also issued reports on SLGN. Citigroup increased their target price on Silgan from $47.00 to $51.00 and gave the stock a neutral rating in a research note on Friday, February 2nd. Truist Financial increased their price target on shares of Silgan from $52.00 to $56.00 and gave the stock a buy rating in a research report on Thursday, January 4th. Royal Bank of Canada lifted their price objective on shares of Silgan from $49.00 to $51.00 and gave the company an outperform 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Silgan from $39.00 to $46.00 and gave the stock an underweight rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $53.00.

Silgan Trading Up 2.0 %

Shares of SLGN stock opened at $46.28 on Thursday. Silgan has a 1-year low of $38.11 and a 1-year high of $49.72. The firm has a market cap of $4.94 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. The company has a 50-day moving average of $46.10 and a two-hundred day moving average of $44.16. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.49 and a quick ratio of 0.61.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the company posted $0.78 EPS. On average, analysts predict that Silgan will post 3.66 EPS for the current year.

Silgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.64%. Silgan’s dividend payout ratio is currently 26.67%.

Insider Activity

In related news, VP B Frederik Prinzen sold 4,684 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 8,613 shares in the company, valued at $378,024.57. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 13.08% of the company’s stock.

Institutional Investors Weigh In On Silgan

Several institutional investors have recently added to or reduced their stakes in SLGN. Principal Securities Inc. purchased a new stake in Silgan in the fourth quarter valued at $30,000. 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 valued at $47,000 after purchasing an additional 505 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Silgan by 92.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 538 shares during the period. Headlands Technologies LLC purchased a new position in Silgan during the 3rd quarter worth approximately $70,000. Finally, Blue Trust Inc. increased its position in Silgan by 4,440.4% during the fourth quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock worth $91,000 after buying an additional 2,087 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

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.