Silgan (NYSE:SLGN) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Silgan (NYSE:SLGN - Free Report) from a neutral rating to an overweight rating in a report published on Thursday, MarketBeat reports. They currently have $57.00 price objective on the industrial products company's stock.

Several other equities analysts have also recently weighed in on SLGN. Robert W. Baird lifted their price objective on Silgan from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Loop Capital boosted their price target on Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Raymond James upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the stock from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Truist Financial dropped their target price 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. Finally, Wells Fargo & Company increased their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Silgan presently has a consensus rating of "Buy" and a consensus price target of $62.78.

Silgan Stock Performance

Shares of Silgan stock traded up $2.14 during trading on Thursday, reaching $54.85. The company's stock had a trading volume of 944,730 shares, compared to its average volume of 660,929. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The business's 50-day moving average price is $50.43 and its 200-day moving average price is $52.47. Silgan has a 52 week low of $41.14 and a 52 week high of $58.14. The firm has a market cap of $5.87 billion, a PE ratio of 21.26, a P/E/G ratio of 1.27 and a beta of 0.81.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts forecast that Silgan will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The company 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 is an increase from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.46%. Silgan's dividend payout ratio (DPR) is currently 29.74%.

Insider Transactions at Silgan

In related news, EVP Robert B. Lewis sold 20,000 shares of the firm's 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 completion of the transaction, the executive vice president now directly owns 152,133 shares of the company's stock, valued at $8,096,518.26. This trade represents a 11.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.39% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SLGN. Arizona State Retirement System increased its position in Silgan by 0.8% in the 4th quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company's stock valued at $1,290,000 after buying an additional 195 shares in the last quarter. State of Michigan Retirement System grew its stake in Silgan by 1.0% in the first quarter. State of Michigan Retirement System now owns 19,400 shares of the industrial products company's stock valued at $992,000 after acquiring an additional 200 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Silgan by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the industrial products company's stock valued at $1,160,000 after acquiring an additional 200 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of Silgan by 5.9% during the first quarter. Central Pacific Bank Trust Division now owns 3,760 shares of the industrial products company's stock worth $192,000 after purchasing an additional 210 shares during the period. Finally, Aristeia Capital L.L.C. lifted its holdings in shares of Silgan by 4.0% in the 4th quarter. Aristeia Capital L.L.C. now owns 5,488 shares of the industrial products company's stock worth $286,000 after purchasing an additional 212 shares in the last quarter. 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.