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

Silgan Holdings Inc. (NYSE:SLGN) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation 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.

Several brokerages have recently weighed in on SLGN. Bank of America boosted their price objective on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Truist Financial restated a “buy” rating and issued a $70.00 price objective (up previously from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Raymond James lifted their target price on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their target price on Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their price target on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th.

Silgan Price Performance

Silgan stock opened at $47.88 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $52.42 and a 200-day simple moving average of $52.73. The stock has a market cap of $5.11 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. Silgan has a 12-month low of $41.14 and a 12-month high of $58.14.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that Silgan will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 17th. Silgan’s dividend payout ratio (DPR) is 31.01%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Silgan

A number of large investors have recently made changes to their positions in the stock. Millennium Management LLC grew its position in Silgan by 764.7% during the fourth quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company’s stock worth $52,708,000 after buying an additional 895,528 shares during the period. FMR LLC grew its holdings in shares of Silgan by 12.2% in the 4th quarter. FMR LLC now owns 7,046,400 shares of the industrial products company’s stock worth $366,765,000 after acquiring an additional 767,944 shares during the period. Norges Bank purchased a new position in Silgan in the 4th quarter valued at approximately $38,680,000. JPMorgan Chase & Co. raised its holdings in Silgan by 12.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company’s stock worth $301,670,000 after purchasing an additional 656,923 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in Silgan by 87.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,253,727 shares of the industrial products company’s stock worth $65,257,000 after purchasing an additional 584,840 shares in the last quarter. 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.