Silgan Holdings Inc. (NYSE:SLGN) Receives Consensus Rating of "Buy" from Analysts

Shares of Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) have been assigned a consensus rating of "Buy" from the nine ratings firms that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $63.11.

SLGN has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Robert W. Baird increased their price target on shares of Silgan from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Loop Capital raised their price objective on shares of Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Truist Financial decreased their target price on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price on the stock in a research note on Thursday, May 1st.

Insider Buying and Selling at Silgan

In related news, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the transaction, the vice president now directly owns 1,380 shares of the company's stock, valued at $74,589. This trade represents a 63.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert B. Lewis sold 10,000 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.92, for a total value of $559,200.00. Following the sale, the executive vice president now owns 153,378 shares of the company's stock, valued at $8,576,897.76. The trade was a 6.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.13% of the company's stock.

Hedge Funds Weigh In On Silgan

A number of institutional investors have recently modified their holdings of the business. Barclays PLC raised its stake in Silgan by 23.6% during the third quarter. Barclays PLC now owns 57,327 shares of the industrial products company's stock worth $3,010,000 after acquiring an additional 10,936 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Silgan during the 4th quarter valued at approximately $1,142,000. Janney Montgomery Scott LLC acquired a new position in Silgan during the 4th quarter worth approximately $2,563,000. KBC Group NV lifted its stake in Silgan by 52.5% in the 4th quarter. KBC Group NV now owns 3,473 shares of the industrial products company's stock valued at $181,000 after purchasing an additional 1,196 shares during the last quarter. Finally, Ausbil Investment Management Ltd lifted its stake in Silgan by 93.9% in the 4th quarter. Ausbil Investment Management Ltd now owns 12,579 shares of the industrial products company's stock valued at $642,000 after purchasing an additional 6,091 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

Silgan Stock Up 0.4%

NYSE SLGN traded up $0.21 during trading on Friday, hitting $55.01. The stock had a trading volume of 515,639 shares, compared to its average volume of 664,670. 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 12 month low of $41.14 and a 12 month high of $58.14. The company has a market capitalization of $5.89 billion, a PE ratio of 21.32, a P/E/G ratio of 1.27 and a beta of 0.74. The company's 50-day moving average price is $51.78 and its two-hundred day moving average price is $52.80.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business earned $0.69 EPS. The company's revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Silgan will post 4.11 EPS for the current year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, June 2nd. Silgan's dividend payout ratio is currently 29.74%.

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.