Silgan Holdings Inc. (NASDAQ:SLGN) has been given an average rating of “Hold” by the thirteen research firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $31.20.
A number of brokerages recently issued reports on SLGN. Barclays raised Silgan from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $30.00 to $35.00 in a research report on Monday, February 12th. Zacks Investment Research raised Silgan from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Monday, February 5th. KeyCorp reissued a “sell” rating and issued a $25.00 target price on shares of Silgan in a research report on Thursday, February 1st. Bank of America lifted their target price on Silgan from $32.00 to $33.00 and gave the company an “underperform” rating in a research report on Thursday, February 1st. Finally, Vertical Research upgraded Silgan from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd.
In other Silgan news, Director D Greg Horrigan sold 69,121 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $28.69, for a total value of $1,983,081.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert B. Lewis sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $29.01, for a total value of $435,150.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 468,655 shares of company stock valued at $13,206,189. Corporate insiders own 33.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SLGN. California Public Employees Retirement System boosted its stake in shares of Silgan by 75.1% during the 2nd quarter. California Public Employees Retirement System now owns 36,600 shares of the industrial products company’s stock worth $1,163,000 after acquiring an additional 15,700 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Silgan during the 3rd quarter worth approximately $264,000. Victory Capital Management Inc. boosted its stake in shares of Silgan by 73.2% during the 3rd quarter. Victory Capital Management Inc. now owns 7,638 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 3,228 shares during the period. Stevens Capital Management LP bought a new position in shares of Silgan during the 3rd quarter worth approximately $266,000. Finally, American Century Companies Inc. boosted its stake in shares of Silgan by 22.2% during the 3rd quarter. American Century Companies Inc. now owns 1,445,334 shares of the industrial products company’s stock worth $42,536,000 after acquiring an additional 262,728 shares during the period. Institutional investors own 68.11% of the company’s stock.
Shares of Silgan (NASDAQ:SLGN) traded up $0.04 during trading on Friday, reaching $28.84. The company had a trading volume of 493,869 shares, compared to its average volume of 697,735. Silgan has a 1-year low of $27.21 and a 1-year high of $32.50. The firm has a market cap of $3,180.00, a price-to-earnings ratio of 20.17, a PEG ratio of 1.41 and a beta of 0.53. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.60 and a current ratio of 1.35.
Silgan (NASDAQ:SLGN) last announced its earnings results on Tuesday, January 30th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.32. Silgan had a return on equity of 30.15% and a net margin of 6.59%. The business had revenue of $995.70 million for the quarter, compared to analyst estimates of $970.24 million. During the same quarter last year, the firm earned $0.48 EPS. Silgan’s revenue for the quarter was up 23.6% compared to the same quarter last year. analysts anticipate that Silgan will post 2.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.39%. This is an increase from Silgan’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, March 15th. Silgan’s dividend payout ratio (DPR) is currently 25.17%.
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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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