Silgan (NYSE:SLGN) Reaches New 12-Month High – Still a Buy?

Silgan Holdings Inc. (NYSE:SLGN) shares reached a new 52-week high on Wednesday . The stock traded as high as $55.32 and last traded at $55.11, with a volume of 74753 shares traded. The stock had previously closed at $54.52.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $46.00 to $53.00 in a research note on Thursday, August 1st. Royal Bank of Canada upped their price objective on Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their target price on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note 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 report on Thursday, August 1st. Finally, Robert W. Baird lifted their price objective on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.43.

Silgan Stock Up 0.7 %

The firm’s fifty day moving average is $51.56 and its two-hundred day moving average is $48.45. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 1.43 and a beta of 0.67. 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 issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm posted $1.16 earnings per share. Silgan’s revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts expect that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.19 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.38%. Silgan’s dividend payout ratio (DPR) is 27.54%.

Hedge Funds Weigh In On Silgan

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Silgan by 123.4% in the 1st quarter. BNP Paribas Financial Markets now owns 36,218 shares of the industrial products company’s stock valued at $1,759,000 after buying an additional 20,005 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Silgan by 46.5% during the first quarter. QRG Capital Management Inc. now owns 17,874 shares of the industrial products company’s stock worth $868,000 after acquiring an additional 5,675 shares in the last quarter. William Blair Investment Management LLC boosted its position in Silgan by 12.2% during the first quarter. William Blair Investment Management LLC now owns 5,229 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 567 shares during the last quarter. Entropy Technologies LP grew its stake in Silgan by 6.7% in the first quarter. Entropy Technologies LP now owns 8,478 shares of the industrial products company’s stock valued at $412,000 after purchasing an additional 529 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in Silgan by 17.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock worth $4,769,000 after purchasing an additional 13,289 shares during the last quarter. 70.25% of the stock is currently 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.