StockNews.com upgraded shares of Silgan (NYSE:SLGN – Free Report) from a hold rating to a buy rating in a research report report published on Saturday.
Other research analysts have also issued research reports about the stock. Royal Bank of Canada raised their price objective on shares of Silgan from $51.00 to $55.00 and gave the company an outperform rating in a research note on Thursday. Robert W. Baird lifted their price target on shares of Silgan from $53.00 to $60.00 and gave the stock an outperform rating in a research report on Thursday. Citigroup raised their price objective on shares of Silgan from $50.00 to $60.00 and gave the stock a buy rating in a research note on Thursday. JPMorgan Chase & Co. raised shares of Silgan from an underweight rating to a neutral rating and raised their price objective for the stock from $46.00 to $53.00 in a research note on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of Silgan from $54.00 to $58.00 and gave the stock an overweight rating in a research note on Thursday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Silgan presently has an average rating of Moderate Buy and a consensus target price of $57.00.
View Our Latest Stock Report on SLGN
Silgan Stock Performance
Silgan (NYSE:SLGN – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.87 by $0.01. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business earned $0.83 earnings per share. Silgan’s revenue was down 3.2% compared to the same quarter last year. Equities research 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 was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Monday, June 3rd. Silgan’s dividend payout ratio (DPR) is currently 26.67%.
Insider Activity
In other news, VP B Frederik Prinzen sold 4,093 shares of the firm’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 transaction, the vice president now owns 4,520 shares in the company, valued at approximately $216,236.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP B Frederik Prinzen sold 4,093 shares of the firm’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 transaction, the vice president now owns 4,520 shares in the company, valued at approximately $216,236.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert B. Lewis sold 30,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.08, for a total transaction of $1,412,400.00. Following the transaction, the executive vice president now owns 172,133 shares in the company, valued at approximately $8,104,021.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,651 shares of company stock worth $2,804,226. 1.39% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of 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 purchasing an additional 426 shares during the period. Principal Securities Inc. bought a new position in shares of Silgan during the 4th quarter worth about $30,000. Versant Capital Management Inc increased its holdings in shares of 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 purchasing an additional 1,107 shares during the period. GAMMA Investing LLC boosted its position in shares of Silgan by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 613 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Silgan by 69.7% during the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 462 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.
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.
Read More
- Five stocks we like better than Silgan
- 3 Grocery Stocks That Are Proving They Are Still Essential
- Market Crash? No Problem for DoorDash Stock’s Impressive Earnings
- The How And Why of Investing in Oil Stocks
- Snap’s Stock Plummets on Q2 Revenue Guidance Shortfall
- How to Read Stock Charts for Beginners
- Hims & Hers Stock Falls on DexCom Fears: Analysts Predict Rally
Receive News & Ratings for Silgan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silgan and related companies with MarketBeat.com's FREE daily email newsletter.