Silgan (NYSE:SLGN) Lifted to “Buy” at Citigroup

Citigroup upgraded shares of Silgan (NYSE:SLGN) from a neutral rating to a buy rating in a report released on Monday, MarketBeat reports. Citigroup currently has $50.00 price target on the industrial products company’s stock.

Separately, Wells Fargo & Company decreased their price target on Silgan from $55.00 to $54.00 and set an overweight rating for the company in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $52.00.

Silgan Price Performance

Shares of SLGN stock opened at $42.56 on Monday. The stock’s 50-day moving average is $45.18 and its 200 day moving average is $45.25. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.04 and a quick ratio of 0.62. Silgan has a 1-year low of $38.11 and a 1-year high of $49.72. The company has a market cap of $4.54 billion, a P/E ratio of 14.93, a PEG ratio of 1.43 and a beta of 0.67.

Silgan (NYSE:SLGN) last released 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. Silgan had a return on equity of 19.26% and a net margin of 5.25%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the business posted $0.78 earnings per share. The firm’s revenue was down 7.1% compared to the same quarter last year. Research analysts predict that Silgan will post 3.66 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Monday, June 3rd. Silgan’s payout ratio is 26.67%.

Insider Transactions at Silgan

In other news, EVP Robert B. Lewis sold 30,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was 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 directly owns 172,133 shares in the company, valued at $8,104,021.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Robert B. Lewis sold 30,000 shares of Silgan stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 172,133 shares in the company, valued at $8,104,021.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP B Frederik Prinzen sold 4,093 shares of Silgan stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $47.84, for a total value of $195,809.12. Following the transaction, the vice president now owns 4,520 shares of the company’s stock, valued at $216,236.80. The disclosure for this sale can be found here. Insiders sold a total of 59,651 shares of company stock worth $2,804,226 over the last three months. 1.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in Silgan by 43.0% in the third quarter. Wellington Management Group LLP now owns 4,220,003 shares of the industrial products company’s stock valued at $181,924,000 after purchasing an additional 1,269,349 shares during the period. Norges Bank acquired a new stake in Silgan in the fourth quarter valued at approximately $41,921,000. Janus Henderson Group PLC grew its holdings in Silgan by 95.6% in the first quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company’s stock valued at $59,462,000 after purchasing an additional 598,472 shares during the period. SG Capital Management LLC acquired a new stake in Silgan in the first quarter valued at approximately $8,584,000. Finally, Perbak Capital Partners LLP acquired a new stake in Silgan in the first quarter valued at approximately $7,168,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

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.