Silgan (NYSE:SLGN) Price Target Raised to $69.00

Silgan (NYSE:SLGN) had its price objective increased by Truist Financial from $63.00 to $69.00 in a research report report published on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Several other analysts have also commented on SLGN. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada boosted their price target on Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.75.

Silgan Trading Down 0.4 %

Shares of NYSE:SLGN opened at $51.01 on Monday. Silgan has a 1 year low of $41.14 and a 1 year high of $58.14. The stock’s fifty day moving average price is $54.02 and its 200-day moving average price is $50.74. The company has a market cap of $5.45 billion, a P/E ratio of 18.48, a PEG ratio of 1.44 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 earnings per share. Sell-side analysts expect that Silgan will post 3.6 earnings per share for the current year.

Silgan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Monday, December 2nd. Silgan’s dividend payout ratio is 27.54%.

Hedge Funds Weigh In On Silgan

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Silgan by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock valued at $137,000 after purchasing an additional 863 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in Silgan in the 3rd quarter worth $2,975,000. Franklin Resources Inc. bought a new stake in Silgan during the third quarter valued at about $223,000. Sanctuary Advisors LLC lifted its position in shares of Silgan by 32.1% in the third quarter. Sanctuary Advisors LLC now owns 7,182 shares of the industrial products company’s stock valued at $406,000 after acquiring an additional 1,747 shares in the last quarter. Finally, Hohimer Wealth Management LLC bought a new position in shares of Silgan in the third quarter worth about $396,000. 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.