Brokerages Set Silgan Holdings Inc. (NASDAQ:SLGN) Price Target at $26.80

Shares of Silgan Holdings Inc. (NASDAQ:SLGN) have been assigned an average rating of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $26.80.

A number of brokerages have recently issued reports on SLGN. Zacks Investment Research lowered shares of Silgan from a “buy” rating to a “hold” rating in a research report on Monday, April 22nd. BidaskClub upgraded shares of Silgan from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Finally, KeyCorp reiterated a “hold” rating on shares of Silgan in a research report on Wednesday, April 24th.

In related news, COO Adam J. Greenlee sold 40,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $30.02, for a total value of $1,200,800.00. Following the transaction, the chief operating officer now directly owns 131,367 shares in the company, valued at $3,943,637.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert B. Lewis sold 18,400 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $30.03, for a total transaction of $552,552.00. Following the completion of the transaction, the chief financial officer now owns 252,117 shares in the company, valued at $7,571,073.51. The disclosure for this sale can be found here. Insiders sold 259,334 shares of company stock worth $7,772,706 over the last 90 days. 30.32% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clearbridge Investments LLC increased its position in shares of Silgan by 3.0% during the first quarter. Clearbridge Investments LLC now owns 589,413 shares of the industrial products company’s stock worth $17,464,000 after acquiring an additional 17,380 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Silgan by 121.8% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,100 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 1,153 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Silgan by 8.4% during the first quarter. Massmutual Trust Co. FSB ADV now owns 17,227 shares of the industrial products company’s stock worth $510,000 after acquiring an additional 1,336 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of Silgan during the first quarter worth $96,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Silgan by 107.3% during the first quarter. Goldman Sachs Group Inc. now owns 383,186 shares of the industrial products company’s stock worth $11,353,000 after acquiring an additional 198,343 shares in the last quarter. Institutional investors and hedge funds own 65.84% of the company’s stock.

Shares of SLGN stock traded up $0.06 during trading hours on Tuesday, reaching $30.02. 470,900 shares of the company were exchanged, compared to its average volume of 481,864. Silgan has a fifty-two week low of $22.24 and a fifty-two week high of $30.90. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.78 and a beta of 0.80. The company has a current ratio of 1.15, a quick ratio of 0.62 and a debt-to-equity ratio of 2.35.

Silgan (NASDAQ:SLGN) last announced its earnings results on Wednesday, April 24th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. Silgan had a net margin of 5.04% and a return on equity of 26.74%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business earned $0.42 earnings per share. Silgan’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that Silgan will post 2.19 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.44 annualized dividend and a yield of 1.47%. Silgan’s dividend payout ratio is currently 21.15%.

Silgan Company Profile

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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Analyst Recommendations for Silgan (NASDAQ:SLGN)

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