Silgan Holdings Inc. (NYSE:SLGN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Silgan Holdings Inc. (NYSE:SLGN) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $64.22.

SLGN has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Loop Capital lifted their price target on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Truist Financial reiterated a “buy” rating and set a $70.00 price target (up previously from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Bank of America raised their price objective on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Raymond James upped their target price on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th.

Silgan Price Performance

Shares of SLGN opened at $48.70 on Friday. The company has a market capitalization of $5.20 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.27 and a beta of 0.81. The business’s 50-day moving average is $51.63 and its two-hundred day moving average is $52.56. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. Silgan has a fifty-two week low of $41.14 and a fifty-two week high of $58.14.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. Research analysts predict that Silgan will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.20 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.64%. This is a positive change from Silgan’s previous quarterly dividend of $0.19. Silgan’s dividend payout ratio (DPR) is presently 31.01%.

Insider Transactions at Silgan

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the completion of the sale, the chief executive officer now directly owns 227,332 shares in the company, valued at $12,441,880.36. This represents a 35.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the transaction, the executive vice president now owns 152,133 shares in the company, valued at approximately $8,096,518.26. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Institutional Trading of Silgan

Several hedge funds have recently made changes to their positions in SLGN. GeoWealth Management LLC acquired a new position in Silgan in the fourth quarter valued at approximately $56,000. Bank of Jackson Hole Trust purchased a new stake in Silgan in the fourth quarter valued at $59,000. Smartleaf Asset Management LLC lifted its stake in shares of Silgan by 1,229.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 1,906 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Silgan by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 863 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Silgan during the 3rd quarter worth about $154,000. 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.