Silgan Holdings Inc. (NYSE:SLGN) Receives Average Recommendation of “Moderate Buy” from Analysts

Silgan Holdings Inc. (NYSE:SLGN) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $53.00.

Separately, Wells Fargo & Company lowered their price objective on shares of Silgan from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd.

Silgan Stock Up 0.2 %

SLGN stock opened at $41.88 on Thursday. The stock has a market cap of $4.47 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.42 and a beta of 0.67. The firm’s 50-day simple moving average is $45.62 and its 200 day simple moving average is $45.35. Silgan has a fifty-two week low of $38.11 and a fifty-two week high of $49.72. The company has a quick ratio of 0.62, a current ratio of 1.04 and a debt-to-equity ratio of 1.33.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.37 billion. Silgan had a return on equity of 19.26% and a net margin of 5.25%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. As a group, sell-side analysts predict that Silgan will post 3.66 EPS for the current year.

Silgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.19 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.81%. Silgan’s dividend payout ratio is currently 26.67%.

Insider Buying and Selling at Silgan

In other Silgan news, EVP Robert B. Lewis sold 30,000 shares of Silgan stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $47.08, for a total transaction of $1,412,400.00. Following the transaction, the executive vice president now owns 172,133 shares of the company’s stock, valued at approximately $8,104,021.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Jay A. Martin sold 21,330 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $46.73, for a total transaction of $996,750.90. Following the completion of the sale, the senior vice president now directly owns 165,989 shares in the company, valued at $7,756,665.97. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert B. Lewis sold 30,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $47.08, for a total value of $1,412,400.00. Following the completion of the transaction, the executive vice president now owns 172,133 shares in the company, valued at approximately $8,104,021.64. The disclosure for this sale can be found here. Insiders have sold a total of 59,651 shares of company stock valued at $2,804,226 in the last three months. 1.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Silgan

Several institutional investors have recently made changes to their positions in SLGN. Principal Securities Inc. bought a new position in Silgan during the fourth quarter valued at about $30,000. Quent Capital LLC increased its position in Silgan by 94.9% in the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock worth $47,000 after buying an additional 505 shares during the period. GAMMA Investing LLC increased its position in Silgan by 109.9% during the second quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 613 shares during the period. Covestor Ltd increased its holdings in shares of Silgan by 69.7% during the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 462 shares during the period. Finally, Blue Trust Inc. increased its stake in Silgan by 4,440.4% during the fourth quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 2,087 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

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.