Silgan (NYSE:SLGN) Hits New 52-Week High – Still a Buy?

Silgan Holdings Inc. (NYSE:SLGN)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $55.48 and last traded at $55.46, with a volume of 106144 shares trading hands. The stock had previously closed at $54.77.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SLGN shares. Robert W. Baird boosted their target price on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Citigroup increased their price target on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada upped their target price on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $46.00 to $53.00 in a report on Thursday, August 1st. Two research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.43.

Silgan Price Performance

The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. The business has a 50 day simple moving average of $52.05 and a 200-day simple moving average of $48.78. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 1.42 and a beta of 0.67.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. Silgan’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. Equities research analysts expect that Silgan Holdings Inc. will post 3.6 earnings per share for the current year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.37%. Silgan’s dividend payout ratio is currently 27.54%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its position in Silgan by 256.6% during the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after buying an additional 426 shares in the last quarter. Versant Capital Management Inc raised its holdings in Silgan by 2,838.5% in the second 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 in the last quarter. GAMMA Investing LLC boosted its holdings 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 buying an additional 613 shares in the last quarter. Covestor Ltd increased its stake in shares of Silgan by 69.7% in 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 in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Silgan during the second quarter valued at approximately $70,000. Hedge funds and other 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.