Silgan (NYSE:SLGN) Shares Gap Up Following Strong Earnings

Silgan Holdings Inc. (NYSE:SLGNGet Free Report)’s stock price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $53.01, but opened at $56.19. Silgan shares last traded at $57.32, with a volume of 191,308 shares trading hands.

The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 18.76% and a net margin of 5.11%.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Monday, December 2nd. Silgan’s payout ratio is 27.54%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Bank of America raised their target price on shares of Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Truist Financial raised their price objective on shares of Silgan from $63.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada raised their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Silgan presently has an average rating of “Moderate Buy” and a consensus price target of $59.75.

Get Our Latest Stock Analysis on SLGN

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SLGN. Wealth Enhancement Advisory Services LLC increased its stake in Silgan by 7.0% in 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 acquiring an additional 361 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Silgan by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock worth $390,000 after buying an additional 388 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Silgan by 1.1% during the second quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock worth $1,594,000 after buying an additional 421 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Silgan by 5.7% during the third quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company’s stock worth $441,000 after buying an additional 456 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Silgan by 27.7% during the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after buying an additional 494 shares during the last quarter. 70.25% of the stock is owned by institutional investors.

Silgan Trading Up 5.1 %

The business’s 50 day simple moving average is $53.66 and its two-hundred day simple moving average is $51.77. The stock has a market cap of $5.95 billion, a P/E ratio of 20.19, a PEG ratio of 1.26 and a beta of 0.71. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24.

Silgan Company Profile

(Get Free Report)

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.

Further Reading

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