Silgan (NYSE:SLGN) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Silgan (NYSE:SLGN) from a buy rating to a hold rating in a report issued on Wednesday.

Several other brokerages also recently issued reports on SLGN. Citigroup raised their price objective on shares of Silgan from $50.00 to $60.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Robert W. Baird lifted their price target on shares of Silgan from $53.00 to $60.00 and gave the company an outperform rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an underweight rating to a neutral rating and lifted their price objective for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Truist Financial reaffirmed a buy rating and issued a $59.00 price target (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Finally, Royal Bank of Canada boosted their target price on Silgan from $51.00 to $55.00 and gave the stock an outperform rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Silgan has an average rating of Moderate Buy and an average price target of $57.00.

Silgan Stock Up 0.6 %

Silgan stock opened at $50.89 on Wednesday. The firm’s 50 day moving average price is $50.71 and its two-hundred day moving average price is $47.69. The firm has a market cap of $5.43 billion, a PE ratio of 17.86, a P/E/G ratio of 1.50 and a beta of 0.67. Silgan has a twelve month low of $38.11 and a twelve month high of $52.84. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06.

Silgan (NYSE:SLGN) last announced 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. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts predict that Silgan will post 3.66 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.49%. Silgan’s dividend payout ratio is 26.67%.

Insider Transactions at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the sale, the vice president now directly owns 11,495 shares in the company, valued at $563,714.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its position in Silgan by 5.8% during the fourth quarter. Wellington Management Group LLP now owns 4,466,816 shares of the industrial products company’s stock valued at $202,123,000 after buying an additional 246,813 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Silgan by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock valued at $125,404,000 after buying an additional 204,384 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Silgan by 6.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,580,856 shares of the industrial products company’s stock valued at $109,248,000 after purchasing an additional 163,853 shares during the last quarter. Boston Trust Walden Corp increased its holdings in shares of Silgan by 20.6% in the second quarter. Boston Trust Walden Corp now owns 1,884,609 shares of the industrial products company’s stock worth $79,776,000 after buying an additional 322,511 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Silgan by 95.6% during the first quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock valued at $59,462,000 after purchasing an additional 598,472 shares during the period. 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.