Silgan Holdings Inc. (SLGN) Given Average Rating of “Hold” by Brokerages
Shares of Silgan Holdings Inc. (NASDAQ:SLGN) have been given an average rating of “Hold” by the ten analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $32.00.
A number of brokerages recently issued reports on SLGN. KeyCorp reissued a “hold” rating on shares of Silgan Holdings in a research report on Friday, August 25th. BidaskClub raised Silgan Holdings from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Royal Bank Of Canada began coverage on Silgan Holdings in a research report on Monday. They issued a “sector perform” rating and a $30.00 target price on the stock. ValuEngine lowered Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Bank of America Corporation lowered Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Thursday, July 27th.
In other Silgan Holdings news, VP Anthony P. Andreacchi sold 2,192 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $30.18, for a total transaction of $66,154.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Robert B. Lewis sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $29.70, for a total value of $207,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 19,698 shares of company stock worth $597,429 in the last ninety days. Insiders own 33.10% of the company’s stock.
Several large investors have recently bought and sold shares of SLGN. Lord Abbett & CO. LLC bought a new position in shares of Silgan Holdings during the 2nd quarter worth approximately $12,093,000. WINTON GROUP Ltd bought a new position in shares of Silgan Holdings during the 2nd quarter worth approximately $870,000. Public Employees Retirement System of Ohio boosted its stake in shares of Silgan Holdings by 248.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 50,916 shares of the industrial products company’s stock worth $1,618,000 after acquiring an additional 36,297 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Silgan Holdings by 100.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 22,070 shares of the industrial products company’s stock worth $701,000 after acquiring an additional 11,035 shares during the period. Finally, Castleark Management LLC bought a new position in shares of Silgan Holdings during the 2nd quarter worth approximately $14,148,000. 67.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Silgan Holdings (NASDAQ:SLGN) opened at 29.36 on Wednesday. The company has a market cap of $3.24 billion, a PE ratio of 23.32 and a beta of 0.53. The company has a 50 day moving average price of $29.44 and a 200 day moving average price of $30.52. Silgan Holdings has a 52 week low of $23.58 and a 52 week high of $32.50.
Silgan Holdings (NASDAQ:SLGN) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.35. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm earned $0.60 EPS. Silgan Holdings’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, equities analysts expect that Silgan Holdings will post $1.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Wednesday, August 30th. Silgan Holdings’s dividend payout ratio (DPR) is 29.03%.
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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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