Shares of Silgan Holdings Inc. (NYSE:SLGN – Get Free Report) crossed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $38.40 and traded as low as $37.05. Silgan shares last traded at $37.9260, with a volume of 1,290,862 shares trading hands.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. Citigroup decreased their price target on shares of Silgan from $54.00 to $49.00 and set a “buy” rating on the stock in a research note on Friday, October 2nd. BMO Capital Markets assumed coverage on shares of Silgan in a research report on Thursday, July 16th. They issued an “outperform” rating and a $57.00 price objective for the company. Bank of America boosted their price objective on shares of Silgan from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Raymond James Financial reissued an “outperform” rating and set a $59.00 price objective on shares of Silgan in a research note on Wednesday, July 15th. Finally, UBS Group set a $38.00 target price on shares of Silgan and gave the stock a “neutral” rating in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.40.
Check Out Our Latest Stock Report on Silgan
Silgan Price Performance
The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. The company has a 50 day moving average of $38.40 and a 200 day moving average of $41.41. The company has a quick ratio of 0.80, a current ratio of 1.27 and a debt-to-equity ratio of 1.54.
Silgan (NYSE:SLGN – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Silgan had a return on equity of 16.74% and a net margin of 4.05%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the company earned $1.01 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts forecast that Silgan Holdings Inc. will post 3.81 EPS for the current fiscal year.
Silgan Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.2%. Silgan’s dividend payout ratio is currently 32.94%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Silgan in the second quarter valued at approximately $369,406,000. Dimensional Fund Advisors LP increased its position in Silgan by 11.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,893,768 shares of the industrial products company’s stock worth $189,871,000 after purchasing an additional 505,813 shares during the last quarter. Bank of America Corp DE purchased a new position in Silgan during the second quarter worth approximately $101,368,000. Jupiter Topco LLC purchased a new position in Silgan during the second quarter worth approximately $62,526,000. Finally, Atlas FRM LLC acquired a new position in shares of Silgan in the 2nd quarter valued at $48,245,600. 70.25% of the stock is currently owned by hedge funds and other institutional investors.
About Silgan
Silgan Holdings Inc (NYSE: SLGN) is a manufacturer of rigid packaging products used by consumer goods companies. The company produces metal containers, plastic containers and specialty closures for food, beverage, personal care, household, healthcare, industrial and other products.
Silgan’s metal packaging business supplies cans and containers for food, pet food, paint, chemicals, aerosols and other applications. Its plastic packaging operations manufacture bottles, tubs and other containers, while its closures business produces metal and plastic caps, lids and dispensing systems for a range of consumer and industrial products.
Founded in 1987, Silgan serves customers primarily across North America and Europe through a network of manufacturing facilities.
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