Silgan Holdings Inc. (NYSE:SLGN) Given Consensus Rating of "Buy" by Analysts

Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) has earned an average rating of "Buy" from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $63.89.

SLGN has been the subject of a number of recent research reports. Raymond James Financial reissued a "strong-buy" rating on shares of Silgan in a report on Tuesday. JPMorgan Chase & Co. raised shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective for the company in a report on Thursday, May 1st. Bank of America reissued a "neutral" rating and issued a $59.00 price objective (up previously from $57.00) on shares of Silgan in a report on Wednesday, July 9th. Citigroup boosted their price objective on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Truist Financial set a $67.00 price target on shares of Silgan and gave the stock a "buy" rating in a report on Friday, July 11th.

Insider Activity

In other Silgan news, EVP Robert B. Lewis sold 10,000 shares of Silgan stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $55.92, for a total transaction of $559,200.00. Following the completion of the sale, the executive vice president directly owned 153,378 shares in the company, valued at $8,576,897.76. The trade was a 6.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $128,530.90. Following the sale, the vice president owned 1,380 shares of the company's stock, valued at approximately $74,589. The trade was a 63.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Silgan

A number of hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its stake in shares of Silgan by 0.4% in the second quarter. Janney Montgomery Scott LLC now owns 50,156 shares of the industrial products company's stock worth $2,717,000 after buying an additional 223 shares during the period. Fort Washington Investment Advisors Inc. OH increased its stake in shares of Silgan by 11.8% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 493,654 shares of the industrial products company's stock worth $26,746,000 after buying an additional 52,294 shares during the period. Ausbil Investment Management Ltd increased its stake in shares of Silgan by 14.8% in the second quarter. Ausbil Investment Management Ltd now owns 22,596 shares of the industrial products company's stock worth $1,224,000 after buying an additional 2,907 shares during the period. CX Institutional increased its stake in shares of Silgan by 26.2% in the second quarter. CX Institutional now owns 1,044 shares of the industrial products company's stock worth $57,000 after buying an additional 217 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Silgan by 3.6% in the second quarter. Public Employees Retirement System of Ohio now owns 113,939 shares of the industrial products company's stock worth $6,173,000 after buying an additional 3,947 shares during the period. 70.25% of the stock is currently owned by institutional investors.

Silgan Stock Up 1.1%

SLGN stock traded up $0.59 during midday trading on Monday, hitting $55.36. The company's stock had a trading volume of 631,061 shares, compared to its average volume of 668,379. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.14 and a quick ratio of 0.67. Silgan has a twelve month low of $44.37 and a twelve month high of $58.14. The company's fifty day moving average price is $54.85 and its 200 day moving average price is $52.82. The stock has a market capitalization of $5.92 billion, a P/E ratio of 20.58, a PEG ratio of 1.28 and a beta of 0.75.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. Silgan had a net margin of 4.82% and a return on equity of 20.00%. Silgan's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 EPS. As a group, equities research analysts predict that Silgan will post 4.11 EPS for the current year.

Silgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.20 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.45%. Silgan's payout ratio is 29.74%.

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.