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

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

A number of research analysts have issued reports on SLGN shares. Citigroup lifted their target price on Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Royal Bank of Canada lifted their target price on Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Raymond James lifted their target price on Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Wells Fargo & Company lifted their target price on Silgan from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Truist Financial lifted their target price on Silgan from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, January 4th.

Insider Transactions at Silgan

In related news, VP B Frederik Prinzen sold 4,684 shares of Silgan stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $205,580.76. Following the transaction, 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 SEC, which is available through this hyperlink. Company insiders own 13.08% of the company’s stock.

Hedge Funds Weigh In On Silgan

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Securities Inc. acquired a new position in shares of Silgan in the fourth quarter worth approximately $30,000. Eagle Bay Advisors LLC lifted its stake in shares of Silgan by 151.1% in the second quarter. Eagle Bay Advisors LLC now owns 836 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 503 shares during the period. Quent Capital LLC lifted its stake in shares of Silgan by 94.9% in the fourth quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 505 shares during the period. Fifth Third Bancorp lifted its stake in Silgan by 92.4% in the third quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock valued at $48,000 after buying an additional 538 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Silgan in the third quarter valued at approximately $70,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Stock Up 1.2 %

Shares of NYSE SLGN opened at $47.42 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.61 and a current ratio of 1.02. Silgan has a 52 week low of $38.11 and a 52 week high of $54.92. The stock has a market capitalization of $5.06 billion, a P/E ratio of 15.91, a PEG ratio of 2.55 and a beta of 0.68. The stock’s fifty day moving average is $45.68 and its 200 day moving average is $43.81.

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

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.19 per share. This is a boost from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Wednesday, March 13th. Silgan’s payout ratio is 25.50%.

About Silgan

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.