Wells Fargo & Company Increases Silgan (NYSE:SLGN) Price Target to $55.00

Silgan (NYSE:SLGN) had its price objective boosted by Wells Fargo & Company from $52.00 to $55.00 in a report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other analysts have also issued reports about the stock. Raymond James boosted their target price on shares of Silgan from $52.00 to $54.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Truist Financial boosted their target price on shares of Silgan from $52.00 to $56.00 and gave the company a buy rating in a research note on Thursday, January 4th. JPMorgan Chase & Co. boosted their target price on shares of Silgan from $39.00 to $46.00 and gave the company an underweight rating in a research note on Thursday, February 1st. Royal Bank of Canada boosted their target price on shares of Silgan from $49.00 to $51.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Finally, Citigroup boosted their target price on shares of Silgan from $47.00 to $51.00 and gave the company a neutral rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Silgan has an average rating of Moderate Buy and an average price target of $53.13.

Silgan Trading Down 2.5 %

SLGN stock opened at $47.47 on Thursday. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 1.35. Silgan has a twelve month low of $38.11 and a twelve month high of $54.92. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 2.59 and a beta of 0.68. The firm’s fifty day simple moving average is $45.42 and its two-hundred day simple moving average is $43.67.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Silgan had a net margin of 5.44% and a return on equity of 20.29%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.39 billion. As a group, analysts anticipate that Silgan will post 3.67 earnings per share for the current year.

Silgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 1.60%. Silgan’s dividend payout ratio is 25.50%.

Insiders Place Their Bets

In other Silgan news, VP B Frederik Prinzen sold 4,684 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $43.89, for a total value of $205,580.76. Following the completion of the transaction, the vice president now directly owns 8,613 shares in the company, valued at $378,024.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Silgan

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Silgan by 3.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,323,963 shares of the industrial products company’s stock valued at $105,159,000 after acquiring an additional 66,837 shares in the last quarter. Barclays PLC increased its holdings in Silgan by 203.9% in the 3rd quarter. Barclays PLC now owns 118,564 shares of the industrial products company’s stock worth $5,109,000 after buying an additional 79,551 shares during the period. Quent Capital LLC increased its holdings in 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 buying an additional 505 shares during the period. Robeco Schweiz AG increased its holdings in Silgan by 24.5% in the 3rd quarter. Robeco Schweiz AG now owns 132,000 shares of the industrial products company’s stock worth $5,691,000 after buying an additional 26,000 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in Silgan by 9.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 132,550 shares of the industrial products company’s stock worth $5,714,000 after buying an additional 11,669 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

About Silgan

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.