Silgan (NYSE:SLGN) Sees Strong Trading Volume

Silgan Holdings Inc. (NYSE:SLGN) saw unusually-strong trading volume on Tuesday . Approximately 571,959 shares were traded during trading, an increase of 0% from the previous session’s volume of 571,271 shares.The stock last traded at $51.65 and had previously closed at $51.33.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SLGN shares. Citigroup increased their price objective on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com upgraded Silgan from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. Truist Financial reissued a “buy” rating and set a $59.00 target price (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Finally, Robert W. Baird lifted their price target on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Silgan Stock Performance

The stock has a 50 day moving average of $49.65 and a two-hundred day moving average of $47.14. The stock has a market capitalization of $5.51 billion, a PE ratio of 17.98, a P/E/G ratio of 1.49 and a beta of 0.67. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64.

Silgan (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 EPS. Research analysts expect that Silgan Holdings Inc. will post 3.66 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, September 3rd. Silgan’s dividend payout ratio (DPR) is 26.67%.

Insider Buying and Selling at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares in the company, valued at approximately $563,714.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.39% of the stock is owned by corporate insiders.

Institutional Trading of Silgan

Several institutional investors have recently made changes to their positions in SLGN. TFO Wealth Partners LLC boosted its position in Silgan by 10,540.0% during the 4th quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 527 shares during the period. Blue Trust Inc. boosted its position in Silgan by 256.6% in the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after buying an additional 426 shares during the last quarter. Principal Securities Inc. purchased a new position in Silgan in the 4th quarter valued at about $30,000. Covestor Ltd boosted its position in Silgan by 69.7% in the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after buying an additional 462 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Silgan by 2,838.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 1,107 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

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.