Brokerages Set Silgan Holdings Inc. (NYSE:SLGN) Price Target at $64.22

Silgan Holdings Inc. (NYSE:SLGN) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $64.22.

A number of equities research analysts recently commented on SLGN shares. Raymond James lifted their target price on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Truist Financial restated a “buy” rating and set a $70.00 price objective (up from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Royal Bank of Canada increased their price objective on shares of Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Loop Capital boosted their target price on shares of Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Robert W. Baird increased their price target on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th.

Insiders Place Their Bets

In related news, EVP Robert B. Lewis sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the completion of the transaction, the executive vice president now owns 152,133 shares in the company, valued at $8,096,518.26. This represents a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the transaction, the chief executive officer now directly owns 227,332 shares in the company, valued at $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

Institutional Trading of Silgan

Several large investors have recently made changes to their positions in the company. GeoWealth Management LLC acquired a new stake in Silgan during the 4th quarter worth $56,000. Bank of Jackson Hole Trust purchased a new position in shares of Silgan in the fourth quarter worth about $59,000. Smartleaf Asset Management LLC boosted its position in Silgan by 1,229.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,906 shares during the last quarter. GAMMA Investing LLC grew its stake in Silgan by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 863 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Silgan in the 3rd quarter valued at about $154,000. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Trading Up 2.7 %

Silgan stock opened at $48.91 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. The stock has a market cap of $5.22 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. The stock has a 50-day moving average of $51.38 and a two-hundred day moving average of $52.53. Silgan has a one year low of $41.14 and a one year high of $58.14.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. On average, research analysts anticipate that Silgan will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.20 dividend. This is a boost from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date was Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.64%. Silgan’s dividend payout ratio is presently 31.01%.

Silgan Company Profile

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.