Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $50.00 and last traded at $51.49, with a volume of 1555534 shares changing hands. The stock had previously closed at $52.45.
Wall Street Analysts Forecast Growth
SLGN has been the topic of several analyst reports. Bank of America upped their price target 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. Royal Bank of Canada lifted their price target on Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Raymond James upgraded Silgan from an "outperform" rating to a "strong-buy" rating and dropped their price objective for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Wells Fargo & Company boosted their target price on Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Finally, Truist Financial reduced their price objective on shares of Silgan from $70.00 to $62.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Silgan currently has an average rating of "Buy" and an average target price of $62.78.
Check Out Our Latest Stock Analysis on Silgan
Silgan Stock Performance
The stock has a 50 day simple moving average of $50.43 and a 200 day simple moving average of $52.47. The stock has a market cap of $5.87 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24.
Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a return on equity of 19.70% and a net margin of 4.72%. Silgan's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. On average, equities analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.
Silgan Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. This is a positive change from Silgan's previous quarterly dividend of $0.19. Silgan's dividend payout ratio (DPR) is currently 29.74%.
Insider Buying and Selling
In other news, CEO Adam J. Greenlee sold 125,000 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $54.73, for a total value of $6,841,250.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, 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 transaction of $1,064,400.00. Following the transaction, the executive vice president now directly owns 152,133 shares of the company's stock, valued at $8,096,518.26. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Silgan
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Silgan by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock worth $464,886,000 after purchasing an additional 455,381 shares in the last quarter. FMR LLC grew its position in Silgan by 12.2% in the 4th quarter. FMR LLC now owns 7,046,400 shares of the industrial products company's stock valued at $366,765,000 after purchasing an additional 767,944 shares during the period. JPMorgan Chase & Co. increased its stake in Silgan by 12.8% during the 4th quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock valued at $301,670,000 after purchasing an additional 656,923 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Silgan by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,062,013 shares of the industrial products company's stock worth $159,377,000 after buying an additional 11,836 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Silgan by 4.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,595,520 shares of the industrial products company's stock worth $133,150,000 after buying an additional 115,878 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.
About Silgan
(
Get Free Report)
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.
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