Silgan (NYSE:SLGN) Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Silgan (NYSE:SLGN) from a buy rating to a hold rating in a research report report published on Thursday morning.

Several other equities analysts also recently weighed in on SLGN. Robert W. Baird lifted their target price on Silgan from $53.00 to $60.00 and gave the company an outperform rating in a research report on Thursday, August 1st. Royal Bank of Canada lifted their price target on Silgan from $51.00 to $55.00 and gave the stock an outperform rating in a report on Thursday, August 1st. Citigroup upped their target price on shares of Silgan from $50.00 to $60.00 and gave the company a buy rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an underweight rating to a neutral rating and raised their price target for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Finally, Truist Financial reiterated a buy rating and set a $59.00 target price (up previously from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Silgan has an average rating of Moderate Buy and an average target price of $57.00.

Silgan Trading Up 1.5 %

Shares of SLGN stock opened at $51.52 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.50 and a beta of 0.67. The company’s 50-day moving average price is $50.62 and its 200-day moving average price is $47.54. Silgan has a twelve month low of $38.11 and a twelve month high of $52.84.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the company posted $0.83 EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities analysts predict that Silgan will post 3.66 earnings per share for the current year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.48%. Silgan’s dividend payout ratio is presently 26.67%.

Insider Activity

In other news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the transaction, the vice president now owns 11,495 shares of the company’s stock, valued at $563,714.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Silgan

Large investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB boosted its stake in shares of Silgan by 31.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 27,288 shares of the industrial products company’s stock worth $1,433,000 after purchasing an additional 6,500 shares during the last quarter. SG Americas Securities LLC increased its stake in Silgan by 16.5% during the third quarter. SG Americas Securities LLC now owns 14,558 shares of the industrial products company’s stock worth $764,000 after acquiring an additional 2,061 shares during the last quarter. JLB & Associates Inc. raised its holdings in Silgan by 1.0% in the third quarter. JLB & Associates Inc. now owns 60,222 shares of the industrial products company’s stock valued at $3,162,000 after buying an additional 600 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Silgan during the 2nd quarter valued at $255,000. Finally, Aristides Capital LLC acquired a new position in shares of Silgan during the second quarter worth about $234,000. Institutional investors and hedge funds 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.