Truist Financial Reaffirms “Buy” Rating for Silgan (NYSE:SLGN)

Truist Financial reiterated their buy rating on shares of Silgan (NYSE:SLGN) in a research report released on Thursday morning,Benzinga reports. Truist Financial currently has a $70.00 price objective on the industrial products company’s stock, up from their previous price objective of $69.00.

SLGN has been the subject of a number of other research reports. Bank of America lifted their price target on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada lifted their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company lifted their price target on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Raymond James increased their price objective on Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $64.22.

Silgan Stock Performance

Shares of SLGN stock opened at $56.08 on Thursday. The firm has a 50 day moving average of $53.67 and a two-hundred day moving average of $51.80. The stock has a market capitalization of $5.99 billion, a PE ratio of 21.74, a P/E/G ratio of 1.34 and a beta of 0.71. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. Silgan has a 52 week low of $41.14 and a 52 week high of $58.14.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.77% and a net margin of 4.72%. On average, research analysts predict that Silgan will post 4.09 EPS for the current fiscal year.

Silgan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.19 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.36%. Silgan’s dividend payout ratio (DPR) is presently 29.46%.

Hedge Funds Weigh In On Silgan

Hedge funds have recently modified their holdings of the business. Venturi Wealth Management LLC raised its position in Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 963 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Silgan by 51.8% in the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock valued at $93,000 after buying an additional 606 shares during the last quarter. KBC Group NV boosted its stake in shares of Silgan by 27.7% during the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after buying an additional 494 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Silgan during the third quarter worth about $154,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Silgan by 13,482.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,124 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 3,101 shares during the period. 70.25% of the stock is currently owned by hedge funds and other 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.