According to Zacks, “Silgan Holdings expects adjusted earnings per share in the range of $2.10-$2.20 in 2019, reflecting a 9.6% increase from the prior year at the mid-point. Silgan Holdings expects to deliver improved operating results across all businesses in 2019. Its closures business is anticipated to benefit from the Dispensing Systems acquisition. Further, increase in capital expenditures and lower tax rates are expected to aid growth. However, lower volumes in metal container business, inflated freight and material costs remain concerns. Moreover, the stock has underperformed the industry over the past year.”
SLGN has been the subject of a number of other research reports. BidaskClub raised shares of Silgan from a hold rating to a buy rating in a report on Wednesday, January 30th. ValuEngine raised shares of Silgan from a sell rating to a hold rating in a report on Monday, February 4th. Citigroup raised shares of Silgan from a neutral rating to a buy rating in a report on Monday, January 7th. Barclays raised shares of Silgan from a neutral rating to a buy rating in a report on Monday, January 7th. Finally, TheStreet raised shares of Silgan from a c+ rating to a b rating in a report on Tuesday, February 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Silgan currently has an average rating of Hold and an average price target of $29.10.
Silgan (NASDAQ:SLGN) last released its earnings results on Tuesday, January 29th. The industrial products company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Silgan had a net margin of 5.03% and a return on equity of 26.82%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.02 billion. Equities analysts predict that Silgan will post 2.17 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from Silgan’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, March 15th. Silgan’s dividend payout ratio (DPR) is currently 21.15%.
In other news, CEO Anthony J. Allott sold 25,320 shares of Silgan stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $28.33, for a total transaction of $717,315.60. Following the transaction, the chief executive officer now directly owns 972,075 shares of the company’s stock, valued at $27,538,884.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Anthony J. Allott sold 63,490 shares of Silgan stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $28.49, for a total transaction of $1,808,830.10. Following the transaction, the insider now directly owns 972,075 shares in the company, valued at $27,694,416.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,172 shares of company stock worth $2,709,435. Insiders own 30.32% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SLGN. Oregon Public Employees Retirement Fund boosted its position in shares of Silgan by 2,370.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 724,449 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 695,121 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Silgan in the 4th quarter valued at $55,000. Dupont Capital Management Corp bought a new stake in Silgan in the 4th quarter valued at $138,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Silgan by 44.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,097 shares of the industrial products company’s stock valued at $144,000 after acquiring an additional 1,876 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Silgan in the 1st quarter valued at $146,000. 66.65% of the stock is currently owned by institutional investors.
Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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