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 sent to investors on Saturday morning.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada increased their price objective on shares of Silgan from $51.00 to $55.00 and gave the company an outperform rating in a research report on Thursday, August 1st. Truist Financial reaffirmed a buy rating and issued a $59.00 price objective (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Wells Fargo & Company increased their price objective on shares of 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 objective on shares of Silgan from $50.00 to $60.00 and gave the company a buy rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised shares of Silgan from an underweight rating to a neutral rating and increased their price objective for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Silgan presently has a consensus rating of Moderate Buy and an average target price of $57.00.

Silgan Stock Up 0.2 %

SLGN opened at $51.37 on Friday. The firm has a 50 day moving average price of $48.84 and a 200 day moving average price of $46.85. The company has a market cap of $5.49 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.46 and a beta of 0.67. Silgan has a 1 year low of $38.11 and a 1 year high of $52.84. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06.

Silgan (NYSE:SLGN) last posted 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. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. Sell-side analysts expect that Silgan will post 3.66 earnings per share for the current year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Tuesday, September 3rd. Silgan’s payout ratio is 26.67%.

Insider Buying and Selling at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the sale, the vice president now directly owns 11,495 shares in the company, valued at $563,714.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. TFO Wealth Partners LLC increased its holdings in shares of Silgan by 10,540.0% during the fourth quarter. TFO Wealth Partners LLC now owns 532 shares of the industrial products company’s stock valued at $226,000 after purchasing an additional 527 shares during the period. Blue Trust Inc. increased its holdings in shares of Silgan by 256.6% during the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 426 shares during the period. Principal Securities Inc. acquired a new position in shares of Silgan during the fourth quarter valued at $30,000. Covestor Ltd increased its holdings in shares of Silgan by 69.7% during the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 462 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of Silgan by 2,838.5% during the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 1,107 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

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.