Silgan (NYSE:SLGN) Rating Lowered to Hold at StockNews.com

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

Other equities analysts have also issued research reports about the company. Wells Fargo & Company increased 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. Citigroup increased their price target on Silgan from $50.00 to $60.00 and gave the company a buy rating in a research report on Thursday, August 1st. Truist Financial reiterated a buy rating and issued a $59.00 price target (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Royal Bank of Canada increased 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. Finally, Robert W. Baird increased their price target on Silgan from $53.00 to $60.00 and gave the company an outperform rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Silgan presently has an average rating of Moderate Buy and an average price target of $57.00.

Silgan Price Performance

NYSE:SLGN opened at $51.37 on Friday. The business’s 50-day moving average price is $48.84 and its 200 day moving average price is $46.85. The firm has a market cap of $5.49 billion, a P/E ratio of 17.97, a PEG ratio of 1.46 and a beta of 0.67. Silgan has a 52-week low of $38.11 and a 52-week high of $52.84. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company earned $0.83 earnings per share. Silgan’s revenue was down 3.2% compared to the same quarter last year. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.48%. Silgan’s payout ratio is presently 26.67%.

Insiders Place Their Bets

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the sale, the vice president now directly owns 11,495 shares in the company, valued at approximately $563,714.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Silgan

Several large investors have recently made changes to their positions in the company. Daiwa Securities Group Inc. grew its stake in shares of Silgan by 0.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock valued at $1,696,000 after buying an additional 218 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Silgan by 5.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock worth $218,000 after purchasing an additional 250 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Silgan by 2.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 267 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in Silgan by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 101,639 shares of the industrial products company’s stock worth $4,936,000 after purchasing an additional 268 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Silgan by 4.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,686 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 275 shares during the last quarter. 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.