Brokerages Set Silgan Holdings Inc. (NYSE:SLGN) PT at $57.43

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $57.43.

A number of equities research analysts have weighed in on SLGN shares. Royal Bank of Canada upped their price target on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th.

Silgan Trading Down 0.8 %

NYSE:SLGN opened at $56.75 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. Silgan has a one year low of $41.14 and a one year high of $58.14. The business’s 50-day simple moving average is $52.99 and its 200 day simple moving average is $49.35. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 1.50 and a beta of 0.69.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the company posted $1.16 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts predict that Silgan will post 3.6 earnings per share for the current fiscal year.

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.34%. Silgan’s dividend payout ratio (DPR) is currently 27.54%.

Hedge Funds Weigh In On Silgan

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in Silgan by 256.6% during the second 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 period. Versant Capital Management Inc grew its stake in shares of Silgan by 2,838.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 1,107 shares during the period. GAMMA Investing LLC raised its stake in Silgan by 109.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 613 shares during the period. Headlands Technologies LLC bought a new position in Silgan during the second quarter worth about $70,000. Finally, Venturi Wealth Management LLC raised its position in shares of Silgan by 220.4% in the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 963 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.