Robert W. Baird reiterated their hold rating on shares of Silgan Holdings Inc. (NASDAQ:SLGN) in a research report sent to investors on Friday, October 27th. Robert W. Baird currently has a $32.00 price objective on the industrial products company’s stock.
SLGN has been the subject of a number of other research reports. KeyCorp restated a hold rating on shares of Silgan Holdings in a research report on Friday, August 25th. Goldman Sachs Group, Inc. (The) lowered Silgan Holdings from a neutral rating to a sell rating and set a $30.00 price target for the company. in a research report on Thursday, July 13th. BidaskClub lowered Silgan Holdings from a sell rating to a strong sell rating in a research report on Tuesday, August 8th. Royal Bank of Canada started coverage on Silgan Holdings in a research report on Monday, October 9th. They set a sector perform rating and a $30.00 price target for the company. Finally, Zacks Investment Research lowered Silgan Holdings from a hold rating to a sell rating in a research report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Silgan Holdings currently has a consensus rating of Hold and an average price target of $31.57.
Shares of Silgan Holdings (SLGN) traded down $0.12 during trading hours on Friday, hitting $28.61. The company had a trading volume of 364,900 shares, compared to its average volume of 565,522. The stock has a market cap of $3,171.01, a P/E ratio of 18.42, a P/E/G ratio of 1.75 and a beta of 0.52. The company has a current ratio of 0.44, a quick ratio of 0.25 and a debt-to-equity ratio of 4.50. Silgan Holdings has a 1-year low of $24.36 and a 1-year high of $32.50.
Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). Silgan Holdings had a return on equity of 32.87% and a net margin of 3.77%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Silgan Holdings’s revenue for the quarter was up 11.2% compared to the same quarter last year. equities research analysts expect that Silgan Holdings will post 1.64 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, November 30th. Silgan Holdings’s payout ratio is 27.38%.
In other Silgan Holdings news, insider Thomas James Snyder sold 10,506 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $30.78, for a total value of $323,374.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Anthony P. Andreacchi sold 2,192 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $30.18, for a total value of $66,154.56. The disclosure for this sale can be found here. Insiders have sold 19,698 shares of company stock worth $597,429 over the last three months. 33.10% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in shares of Silgan Holdings by 9.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 207 shares in the last quarter. KCG Holdings Inc. bought a new stake in shares of Silgan Holdings during the 1st quarter worth about $207,000. Bank of Montreal Can boosted its stake in shares of Silgan Holdings by 89.3% during the 2nd quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock worth $124,000 after acquiring an additional 1,847 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Silgan Holdings during the 2nd quarter worth about $127,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Silgan Holdings during the 2nd quarter worth about $140,000. Institutional investors own 65.87% of the company’s stock.
Silgan Holdings Company Profile
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
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