Silgan (NASDAQ:SLGN) had its price target boosted by Citigroup from $34.00 to $36.00 in a report released on Thursday, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the industrial products company’s stock.
SLGN has been the topic of several other reports. Zacks Investment Research cut HANNOVER RUECK/S from a hold rating to a sell rating in a research report on Monday, April 22nd. BidaskClub cut Virtu Financial from a sell rating to a strong sell rating in a research report on Wednesday, June 12th. Finally, KeyCorp reissued a hold rating on shares of Silgan in a research report on Wednesday, April 24th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Silgan has an average rating of Hold and a consensus target price of $30.29.
Silgan stock opened at $30.59 on Thursday. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.15 and a quick ratio of 0.62. Silgan has a one year low of $22.24 and a one year high of $31.69. The stock has a market capitalization of $3.40 billion, a PE ratio of 14.43, a PEG ratio of 1.82 and a beta of 0.80. The firm’s fifty day simple moving average is $30.06.
Silgan (NASDAQ:SLGN) last released its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Silgan had a return on equity of 26.74% and a net margin of 5.04%. Silgan’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. As a group, research analysts anticipate that Silgan will post 2.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a $0.11 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.44 annualized dividend and a yield of 1.44%. Silgan’s payout ratio is 21.15%.
In other news, insider Adam J. Greenlee sold 110,000 shares of Silgan stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $29.90, for a total transaction of $3,289,000.00. Following the transaction, the insider now directly owns 131,367 shares of the company’s stock, valued at approximately $3,927,873.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP B Frederik Prinzen sold 12,242 shares of Silgan stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $30.06, for a total value of $367,994.52. The disclosure for this sale can be found here. Insiders sold 259,334 shares of company stock worth $7,772,706 over the last three months. Insiders own 30.32% of the company’s stock.
Several hedge funds have recently bought and sold shares of SLGN. Clark Capital Management Group Inc. bought a new stake in Silgan in the 2nd quarter worth approximately $2,628,000. NN Investment Partners Holdings N.V. bought a new stake in Silgan in the 2nd quarter worth approximately $165,000. Campbell & CO Investment Adviser LLC bought a new stake in Silgan in the 2nd quarter worth approximately $444,000. Retirement Systems of Alabama increased its stake in Silgan by 0.6% in the 2nd quarter. Retirement Systems of Alabama now owns 101,193 shares of the industrial products company’s stock worth $3,097,000 after acquiring an additional 565 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Silgan by 5.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,620 shares of the industrial products company’s stock worth $325,000 after acquiring an additional 542 shares during the last quarter. 65.75% of the stock is currently owned by hedge funds and other institutional investors.
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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