Brokerages Set Silgan Holdings Inc. (NYSE:SLGN) PT at $64.22

Silgan Holdings Inc. (NYSE:SLGN) has earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $64.22.

SLGN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Royal Bank of Canada lifted their target price on shares of Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Truist Financial restated a “buy” rating and set a $70.00 target price (up previously from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Bank of America lifted their target price 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. Finally, Wells Fargo & Company lifted their target price 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.

Insider Activity

In related news, CEO Adam J. Greenlee sold 125,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the transaction, the chief executive officer now owns 227,332 shares of the company’s stock, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of the company’s stock in a transaction that occurred 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 trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Silgan

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its position in Silgan by 10.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,088 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 571 shares during the last quarter. Integrated Advisors Network LLC purchased a new stake in Silgan during the fourth quarter worth approximately $545,000. Mackenzie Financial Corp purchased a new stake in Silgan during the fourth quarter worth approximately $540,000. Alpine Global Management LLC purchased a new stake in Silgan during the fourth quarter worth approximately $800,000. Finally, PharVision Advisers LLC purchased a new stake in Silgan during the fourth quarter worth approximately $392,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Stock Up 0.4 %

Shares of NYSE:SLGN opened at $49.83 on Tuesday. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.27 and a beta of 0.71. Silgan has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The firm’s 50-day simple moving average is $52.89 and its 200-day simple moving average is $52.80. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. As a group, equities research analysts predict that Silgan will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Silgan’s previous quarterly dividend of $0.19. Silgan’s payout ratio is currently 31.01%.

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.