Silgan Holdings Inc. (SLGN) Downgraded by BidaskClub to “Hold”
Silgan Holdings Inc. (NASDAQ:SLGN) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
SLGN has been the topic of a number of other research reports. Zacks Investment Research downgraded Silgan Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Barclays PLC lifted their target price on Silgan Holdings from $27.50 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, May 1st. BMO Capital Markets reiterated a “buy” rating and issued a $32.50 price objective on shares of Silgan Holdings in a report on Monday, March 27th. KeyCorp reiterated a “hold” rating on shares of Silgan Holdings in a report on Wednesday, April 26th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $30.00 price objective (down previously from $60.00) on shares of Silgan Holdings in a report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $28.75.
Silgan Holdings (NASDAQ:SLGN) last posted its earnings results on Wednesday, April 26th. The industrial products company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. Silgan Holdings had a return on equity of 28.84% and a net margin of 4.14%. The company had revenue of $805.40 million for the quarter, compared to the consensus estimate of $795.58 million. During the same quarter in the previous year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a $0.09 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $0.36 annualized dividend and a dividend yield of 1.13%. Silgan Holdings’s dividend payout ratio is presently 28.46%.
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In related news, VP Adam J. Greenlee sold 5,643 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $61.56, for a total value of $347,383.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP B Frederik Prinzen sold 3,204 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $62.28, for a total value of $199,545.12. The disclosure for this sale can be found here. 32.94% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of SLGN. Louisiana State Employees Retirement System increased its stake in Silgan Holdings by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the industrial products company’s stock valued at $564,000 after buying an additional 200 shares in the last quarter. Massmutual Trust Co. FSB ADV bought a new stake in shares of Silgan Holdings during the fourth quarter valued at $421,000. Menta Capital LLC bought a new stake in shares of Silgan Holdings during the fourth quarter valued at $2,092,000. AQR Capital Management LLC increased its stake in shares of Silgan Holdings by 76.9% in the fourth quarter. AQR Capital Management LLC now owns 7,292 shares of the industrial products company’s stock valued at $373,000 after buying an additional 3,171 shares during the period. Finally, Bbva Compass Bancshares Inc. increased its stake in shares of Silgan Holdings by 16.4% in the first quarter. Bbva Compass Bancshares Inc. now owns 4,767 shares of the industrial products company’s stock valued at $283,000 after buying an additional 673 shares during the period. Hedge funds and other institutional investors own 33.42% of the company’s stock.
About Silgan Holdings
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
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