Silgan (NYSE:SLGN) Reaches New 52-Week High – Still a Buy?

Silgan Holdings Inc. (NYSE:SLGN)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $57.86 and last traded at $57.82, with a volume of 8299 shares. The stock had previously closed at $57.17.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SLGN shares. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Truist Financial reaffirmed a “buy” rating and set a $59.00 target price (up previously from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Wells Fargo & Company increased their target price on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Citigroup raised their price target on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada increased their price objective on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan Stock Up 0.5 %

The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. The company has a market capitalization of $6.14 billion, a PE ratio of 20.82, a P/E/G ratio of 1.50 and a beta of 0.67. The business’s 50 day simple moving average is $52.64 and its 200 day simple moving average is $49.12.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 EPS. As a group, analysts anticipate that Silgan Holdings Inc. will post 3.6 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.19 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.32%. Silgan’s dividend payout ratio (DPR) is currently 27.54%.

Hedge Funds Weigh In On Silgan

Several large investors have recently made changes to their positions in SLGN. Blue Trust Inc. raised its position in Silgan by 256.6% in the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 426 shares during the period. Versant Capital Management Inc raised its holdings in shares of Silgan by 2,838.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after buying an additional 1,107 shares during the period. GAMMA Investing LLC lifted its stake in Silgan by 109.9% during the 2nd 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 in the last quarter. Headlands Technologies LLC purchased a new position in Silgan during the 2nd quarter valued at about $70,000. Finally, Venturi Wealth Management LLC grew 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 in the last quarter. 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.