Silgan (NYSE:SLGN) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Silgan (NYSE:SLGN) from a buy rating to a hold rating in a research note published on Saturday.

Several other research firms also recently commented on SLGN. JPMorgan Chase & Co. raised shares of Silgan from an underweight rating to a neutral rating and increased their target price for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. Robert W. Baird increased their target price on shares of Silgan from $53.00 to $60.00 and gave the stock an outperform rating in a research report on Thursday, August 1st. Truist Financial reissued a buy rating and set a $59.00 target price (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Wells Fargo & Company raised their price target on Silgan from $54.00 to $58.00 and gave the company an overweight rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada raised their price target on Silgan from $51.00 to $55.00 and gave the company an outperform rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $57.00.

Silgan Price Performance

Shares of NYSE:SLGN opened at $51.27 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. Silgan has a 1 year low of $38.11 and a 1 year high of $52.84. The business has a fifty day simple moving average of $48.84 and a 200 day simple moving average of $46.85. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 1.46 and a beta of 0.67.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. Silgan’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.83 earnings per share. As a group, sell-side analysts predict that Silgan will post 3.66 earnings per share for the current fiscal year.

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, September 3rd. Silgan’s payout ratio is presently 26.67%.

Insider Activity at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares in the company, valued at $563,714.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC increased its holdings in shares of Silgan by 10,540.0% in the fourth quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock valued at $226,000 after purchasing an additional 527 shares in the last quarter. Blue Trust Inc. grew its holdings in Silgan by 256.6% during the 2nd quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 426 shares during the period. Principal Securities Inc. acquired a new stake in Silgan during the 4th quarter worth $30,000. Covestor Ltd grew its holdings in 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 acquiring an additional 462 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Silgan by 2,838.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 1,107 shares during the period. Institutional investors own 70.25% of the company’s stock.

Silgan Company Profile

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.