Silgan Holdings Inc. (NASDAQ:SLGN) has earned an average rating of “Hold” from the twelve analysts that are currently covering the firm. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $52.00.
A number of research firms have recently weighed in on SLGN. Wells Fargo & Co. downgraded Silgan Holdings from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 28th. Zacks Investment Research raised Silgan Holdings from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. Citigroup Inc. decreased their price objective on Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, August 2nd. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $53.00 price objective on shares of Silgan Holdings in a research note on Wednesday, June 1st. Finally, BMO Capital Markets cut Silgan Holdings from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $58.00 to $47.00 in a research note on Wednesday, June 8th.
In other Silgan Holdings news, VP B Frederik Prinzen sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $48.05, for a total value of $48,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Anthony P. Andreacchi sold 1,221 shares of the business’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $48.48, for a total value of $59,194.08. The disclosure for this sale can be found here. 32.94% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. LS Investment Advisors LLC boosted its position in Silgan Holdings by 78.4% in the second quarter. LS Investment Advisors LLC now owns 2,467 shares of the company’s stock worth $127,000 after buying an additional 1,084 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Silgan Holdings during the second quarter worth about $129,000. Sei Investments Co. boosted its position in Silgan Holdings by 127.2% in the second quarter. Sei Investments Co. now owns 3,729 shares of the company’s stock worth $192,000 after buying an additional 2,088 shares during the last quarter. US Bancorp DE boosted its position in Silgan Holdings by 7.2% in the second quarter. US Bancorp DE now owns 4,538 shares of the company’s stock worth $233,000 after buying an additional 304 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in Silgan Holdings during the first quarter worth about $289,000. 68.85% of the stock is owned by hedge funds and other institutional investors.
Silgan Holdings (NASDAQ:SLGN) traded down 0.06% during midday trading on Wednesday, hitting $50.06. The stock had a trading volume of 54,289 shares. The stock has a 50-day moving average of $48.82 and a 200-day moving average of $50.84. The firm has a market cap of $3.03 billion, a P/E ratio of 19.46 and a beta of 0.54. Silgan Holdings has a 52 week low of $47.00 and a 52 week high of $56.06.
Silgan Holdings (NASDAQ:SLGN) last released its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The company earned $874.60 million during the quarter, compared to the consensus estimate of $895.15 million. Silgan Holdings had a return on equity of 25.69% and a net margin of 4.23%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.71 earnings per share. Analysts forecast that Silgan Holdings will post $2.80 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.36%. Silgan Holdings’s payout ratio is 26.25%.
Silgan Holdings Company Profile
Silgan Holdings Inc (Silgan) is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products. The Company operates through three segments: metal container, closures and plastic container. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products.
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