Silgan (NYSE:SLGN) Shares Gap Up to $41.32

Silgan Holdings Inc. (NYSE:SLGNGet Free Report) gapped up prior to trading on Monday . The stock had previously closed at $41.32, but opened at $42.65. Silgan shares last traded at $42.46, with a volume of 36,900 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently commented on SLGN. Citigroup upgraded Silgan from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Monday. Wells Fargo & Company dropped their target price on Silgan from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Silgan presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.88.

Get Our Latest Analysis on SLGN

Silgan Trading Down 0.8 %

The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.62 and a current ratio of 1.04. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 1.43 and a beta of 0.67. The company has a 50 day moving average price of $45.23 and a two-hundred day moving average price of $45.27.

Silgan (NYSE:SLGNGet Free Report) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.37 billion. Silgan had a return on equity of 19.26% and a net margin of 5.25%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 EPS. On average, research analysts forecast that Silgan Holdings Inc. will post 3.66 EPS for the current year.

Silgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Monday, June 3rd. Silgan’s payout ratio is 26.67%.

Insider Activity at Silgan

In related news, VP B Frederik Prinzen sold 4,093 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $47.84, for a total value of $195,809.12. Following the completion of the transaction, the vice president now directly owns 4,520 shares of the company’s stock, valued at approximately $216,236.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP B Frederik Prinzen sold 4,093 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $47.84, for a total value of $195,809.12. Following the completion of the transaction, the vice president now directly owns 4,520 shares of the company’s stock, valued at approximately $216,236.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jay A. Martin sold 21,330 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $46.73, for a total value of $996,750.90. Following the completion of the transaction, the senior vice president now directly owns 165,989 shares of the company’s stock, valued at $7,756,665.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,651 shares of company stock valued at $2,804,226. 1.39% of the stock is owned by insiders.

Institutional Trading of Silgan

A number of hedge funds and other institutional investors have recently modified their holdings of SLGN. Principal Securities Inc. acquired a new stake in shares of Silgan in the 4th quarter worth $30,000. Quent Capital LLC increased its stake in shares of Silgan by 94.9% in the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 505 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Silgan by 2,838.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 1,107 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Silgan by 109.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 613 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Silgan by 69.7% in the 1st quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 462 shares during the last quarter. 70.25% of the stock is owned by institutional investors and hedge funds.

About Silgan

(Get Free Report)

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.

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