Analysts Set Silgan Holdings Inc. (NYSE:SLGN) PT at $53.00

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $53.00.

Separately, Wells Fargo & Company cut their price objective on Silgan from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd.

Insider Activity

In other Silgan news, EVP Robert B. Lewis sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $47.08, for a total value of $1,412,400.00. Following the sale, the executive vice president now owns 172,133 shares of the company’s stock, valued at $8,104,021.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Silgan news, EVP Robert B. Lewis sold 30,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $47.08, for a total transaction of $1,412,400.00. Following the sale, the executive vice president now directly owns 172,133 shares in the company, valued at $8,104,021.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jay A. Martin sold 4,228 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $47.13, for a total transaction of $199,265.64. Following the sale, the senior vice president now directly owns 144,161 shares in the company, valued at approximately $6,794,307.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,651 shares of company stock valued at $2,804,226. Company insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Silgan

A number of hedge funds have recently bought and sold shares of SLGN. Wellington Management Group LLP raised its holdings in shares of Silgan by 43.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,220,003 shares of the industrial products company’s stock valued at $181,924,000 after purchasing an additional 1,269,349 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Silgan by 20.9% in the third quarter. JPMorgan Chase & Co. now owns 6,053,086 shares of the industrial products company’s stock valued at $260,949,000 after buying an additional 1,047,558 shares in the last quarter. Norges Bank acquired a new stake in Silgan in the fourth quarter valued at $41,921,000. Janus Henderson Group PLC lifted its holdings in Silgan by 95.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock worth $59,462,000 after buying an additional 598,472 shares during the last quarter. Finally, SG Capital Management LLC acquired a new position in shares of Silgan during the 1st quarter worth about $8,584,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Trading Down 0.2 %

Silgan stock opened at $45.70 on Friday. The stock has a 50-day moving average price of $47.02 and a 200 day moving average price of $45.23. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.54 and a beta of 0.69. Silgan has a 52 week low of $38.11 and a 52 week high of $49.72. The company has a quick ratio of 0.62, a current ratio of 1.04 and a debt-to-equity ratio of 1.33.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the company posted $0.78 earnings per share. The firm’s revenue was down 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Silgan will post 3.66 EPS for the current year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.66%. Silgan’s payout ratio is currently 26.67%.

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.