Silgan Holdings Inc. (NYSE:SLGN) Receives $64.22 Consensus PT from Brokerages

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

A number of research analysts have issued reports on SLGN shares. Royal Bank of Canada increased their target price on shares of Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Raymond James upped their target price on Silgan from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Loop Capital lifted their price target on Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Truist Financial reissued a "buy" rating and issued a $70.00 price objective (up from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Finally, Bank of America increased their price target on shares of Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a research report on Monday, January 6th.

Silgan Stock Performance

Shares of NYSE:SLGN traded down $1.63 during midday trading on Tuesday, hitting $49.14. The stock had a trading volume of 336,922 shares, compared to its average volume of 591,201. The company has a market capitalization of $5.25 billion, a PE ratio of 19.07, a P/E/G ratio of 1.27 and a beta of 0.71. Silgan has a 1 year low of $41.14 and a 1 year high of $58.14. The stock has a 50 day moving average price of $53.04 and a two-hundred day moving average price of $52.85. 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 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. As a group, equities analysts predict that Silgan will post 4.11 earnings per share for the current fiscal year.

Silgan Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.63%. This is an increase from Silgan's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 17th. Silgan's payout ratio is presently 31.01%.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SLGN. Wealth Enhancement Advisory Services LLC increased its stake in Silgan by 7.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company's stock valued at $290,000 after purchasing an additional 361 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in Silgan by 5.5% in the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company's stock valued at $390,000 after acquiring an additional 388 shares during the period. Atria Investments Inc bought a new position in shares of Silgan during the third quarter valued at approximately $244,000. Venturi Wealth Management LLC raised its position in shares of Silgan by 220.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company's stock worth $74,000 after purchasing an additional 963 shares during the period. Finally, Versor Investments LP lifted its holdings in shares of Silgan by 112.7% in the 3rd quarter. Versor Investments LP now owns 10,208 shares of the industrial products company's stock worth $536,000 after purchasing an additional 5,408 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

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.