Analysts Set Silgan Holdings Inc. (NYSE:SLGN) Price Target at $64.22

Shares of Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $64.22.

A number of equities analysts recently commented on SLGN shares. Robert W. Baird increased their price objective on Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Wells Fargo & Company increased their target price on Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on Silgan from $53.00 to $57.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Truist Financial reiterated a "buy" rating and set a $70.00 target price (up from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Finally, Loop Capital upped their target price on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 30th.

Silgan Trading Down 3.2 %

SLGN stock traded down $1.56 during mid-day trading on Friday, reaching $47.13. 141,014 shares of the stock traded hands, compared to its average volume of 646,950. Silgan has a 52-week low of $41.14 and a 52-week high of $58.14. The stock's fifty day moving average is $51.63 and its 200-day moving average is $52.56. The company has a market cap of $5.03 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.27 and a beta of 0.81. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24.

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Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (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, sell-side analysts expect that Silgan will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.20 per share. This is an increase from Silgan's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.70%. Silgan's dividend payout ratio is presently 31.01%.

Insider Activity at Silgan

In related news, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the sale, the executive vice president now directly owns 152,133 shares in the company, valued at approximately $8,096,518.26. The trade was a 11.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the sale, the chief executive officer now owns 227,332 shares of the company's stock, valued at $12,441,880.36. This represents a 35.48 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by company insiders.

Institutional Trading of Silgan

A number of hedge funds and other institutional investors have recently made changes to their positions in SLGN. GeoWealth Management LLC purchased a new stake in shares of Silgan during the 4th quarter worth $56,000. Bank of Jackson Hole Trust purchased a new stake in Silgan during the 4th quarter worth $59,000. Smartleaf Asset Management LLC raised its holdings in shares of Silgan by 1,229.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock valued at $107,000 after buying an additional 1,906 shares during the period. GAMMA Investing LLC grew its holdings in Silgan by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company's stock valued at $137,000 after purchasing an additional 863 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Silgan in the third quarter worth about $154,000. Institutional investors and hedge funds own 70.25% of the company's stock.

About Silgan

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.