Silgan (NYSE:SLGN) Hits New 1-Year High – Should You Buy?

Silgan Holdings Inc. (NYSE:SLGN)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $55.48 and last traded at $55.46, with a volume of 106144 shares trading hands. The stock had previously closed at $54.77.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Truist Financial reiterated a “buy” rating and issued a $59.00 target price (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company lifted their price target on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird increased their price target on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Citigroup increased their target price on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Silgan has an average rating of “Moderate Buy” and a consensus target price of $57.43.

Silgan Trading Up 1.7 %

The stock has a 50-day moving average price of $52.29 and a 200-day moving average price of $48.90. The stock has a market cap of $6.04 billion, a P/E ratio of 20.48, a P/E/G ratio of 1.46 and a beta of 0.67. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. Silgan’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the business earned $1.16 EPS. On average, equities research analysts expect that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Monday, December 2nd. Silgan’s payout ratio is currently 27.54%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. FMR LLC raised its holdings in Silgan by 87.7% in the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock worth $329,619,000 after buying an additional 2,932,680 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Silgan by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock valued at $125,404,000 after acquiring an additional 204,384 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Silgan by 1.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock worth $137,047,000 after acquiring an additional 29,565 shares during the last quarter. State Street Corp lifted its position in Silgan by 0.6% in the 3rd quarter. State Street Corp now owns 2,497,683 shares of the industrial products company’s stock valued at $131,128,000 after acquiring an additional 14,109 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its stake in Silgan by 20.6% during the 2nd quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock valued at $79,776,000 after purchasing an additional 322,511 shares during the last quarter. 70.25% of the stock is currently owned by institutional investors.

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.