Silgan Holdings Inc. (NYSE:SLGN) Receives $53.00 Average Price Target from Brokerages

Shares of Silgan Holdings Inc. (NYSE:SLGN) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $53.00.

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

Insiders Place Their Bets

In other Silgan news, VP B Frederik Prinzen sold 4,093 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.84, for a total transaction of $195,809.12. Following the completion of the transaction, the vice president now owns 4,520 shares of the company’s stock, valued at approximately $216,236.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP B Frederik Prinzen sold 4,093 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $47.84, for a total transaction of $195,809.12. Following the completion of the transaction, the vice president now owns 4,520 shares of the company’s stock, valued at $216,236.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jay A. Martin sold 21,330 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $46.73, for a total transaction of $996,750.90. Following the transaction, the senior vice president now directly owns 165,989 shares of the company’s stock, valued at approximately $7,756,665.97. The disclosure for this sale can be found here. Insiders sold a total of 59,651 shares of company stock valued at $2,804,226 in the last quarter. Insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SLGN. TFO Wealth Partners LLC raised its position in Silgan by 10,540.0% in the fourth quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 527 shares in the last quarter. Principal Securities Inc. bought a new stake in Silgan during the fourth quarter worth about $30,000. Quent Capital LLC grew its stake in Silgan by 94.9% during the fourth 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 last quarter. Covestor Ltd grew its stake in shares of Silgan by 69.7% during the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 462 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Silgan during the third quarter valued at approximately $70,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Silgan Trading Down 0.6 %

Silgan stock opened at $44.12 on Friday. The company’s fifty day simple moving average is $46.77 and its 200-day simple moving average is $45.27. 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 has a 12 month low of $38.11 and a 12 month high of $49.72. The stock has a market cap of $4.71 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.49 and a beta of 0.69.

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

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Monday, June 3rd. Silgan’s dividend payout ratio is 26.67%.

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.