Brokerages Set Silgan Holdings Inc. (NYSE:SLGN) Price Target at $64.22

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $64.22.

SLGN has been the subject of a number of research reports. Raymond James boosted their price target on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company boosted their target price on Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Robert W. Baird raised their price target on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Loop Capital boosted their price objective on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada increased their price objective on Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 30th.

Silgan Trading Up 7.1 %

NYSE:SLGN opened at $48.70 on Friday. Silgan has a 1 year low of $41.14 and a 1 year high of $58.14. The stock has a market cap of $5.20 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.27 and a beta of 0.81. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. The stock has a 50-day simple moving average of $51.63 and a 200-day simple moving average of $52.56.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. As a group, analysts anticipate that Silgan will post 4.11 earnings per share for the current fiscal year.

Silgan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.64%. Silgan’s payout ratio is 31.01%.

Insider Buying and Selling at Silgan

In related news, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $53.22, for a total value of $1,064,400.00. Following the sale, the executive vice president now directly owns 152,133 shares of the company’s stock, valued at approximately $8,096,518.26. This represents a 11.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the transaction, the chief executive officer now owns 227,332 shares of the company’s stock, valued at approximately $12,441,880.36. The trade was a 35.48 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wright Investors Service Inc. acquired a new stake in Silgan during the 1st quarter valued at $473,000. GAMMA Investing LLC lifted its position in shares of Silgan by 4,090.3% in the first quarter. GAMMA Investing LLC now owns 110,624 shares of the industrial products company’s stock valued at $5,655,000 after acquiring an additional 107,984 shares in the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of Silgan by 5.9% during the first quarter. Central Pacific Bank Trust Division now owns 3,760 shares of the industrial products company’s stock valued at $192,000 after acquiring an additional 210 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Silgan by 10.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,088 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 571 shares in the last quarter. Finally, Integrated Advisors Network LLC acquired a new position in Silgan in the 4th quarter valued at about $545,000. 70.25% of the stock is 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.