Analysts Set Silgan Holdings Inc. (NYSE:SLGN) Target Price at $64.22

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been given a consensus rating of “Moderate Buy” by the nine brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $64.22.

A number of brokerages recently commented on SLGN. Royal Bank of Canada increased their price target on Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Bank of America increased their price target on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. increased their price target on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Truist Financial reissued a “buy” rating and issued a $70.00 price target (up previously from $69.00) on shares of Silgan in a report on Thursday, January 30th. Finally, Wells Fargo & Company increased their price target on Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, January 30th.

Insiders Place Their Bets

In related news, EVP Robert B. Lewis sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the sale, the executive vice president now owns 152,133 shares of the company’s stock, valued at approximately $8,096,518.26. This trade represents a 11.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the completion of the sale, the chief executive officer now directly owns 227,332 shares in the company, valued at approximately $12,441,880.36. This trade represents a 35.48 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

Institutional Trading of Silgan

Several hedge funds have recently made changes to their positions in SLGN. GeoWealth Management LLC acquired a new stake in Silgan in the 4th quarter valued at approximately $56,000. Bank of Jackson Hole Trust acquired a new stake in Silgan in the 4th quarter valued at approximately $59,000. Venturi Wealth Management LLC increased its position in Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 963 shares during the period. Smartleaf Asset Management LLC increased its position in Silgan by 1,229.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 1,906 shares during the period. Finally, KBC Group NV increased its position in Silgan by 27.7% in the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 494 shares during the period. Institutional investors own 70.25% of the company’s stock.

Silgan Stock Performance

Shares of NYSE:SLGN opened at $48.72 on Tuesday. The firm has a market capitalization of $5.20 billion, a PE ratio of 18.88, a P/E/G ratio of 1.27 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. The business has a 50-day moving average of $52.99 and a two-hundred day moving average of $52.83. Silgan has a 12 month low of $41.14 and a 12 month high of $58.14.

Silgan (NYSE:SLGN) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. As a group, research analysts forecast that Silgan will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Silgan’s previous quarterly dividend of $0.19. Silgan’s dividend payout ratio (DPR) is currently 31.01%.

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.