Silgan (NYSE:SLGN) Given New $54.00 Price Target at Wells Fargo & Company

Silgan (NYSE:SLGN) had its price target trimmed by Wells Fargo & Company from $55.00 to $54.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Several other research analysts have also weighed in on the stock. Raymond James lifted their price objective on shares of Silgan from $52.00 to $54.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. Truist Financial boosted their price target on shares of Silgan from $52.00 to $56.00 and gave the company a buy rating in a report on Thursday, January 4th. Royal Bank of Canada raised their price objective on Silgan from $49.00 to $51.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. boosted their target price on Silgan from $39.00 to $46.00 and gave the company an underweight rating in a research note on Thursday, February 1st. Finally, Citigroup raised their price target on Silgan from $47.00 to $51.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $53.00.

Silgan Trading Up 2.0 %

SLGN stock traded up $0.89 during midday trading on Thursday, reaching $46.28. The company’s stock had a trading volume of 704,405 shares, compared to its average volume of 647,615. The business’s 50-day simple moving average is $46.10 and its 200-day simple moving average is $44.16. The company has a quick ratio of 0.61, a current ratio of 0.49 and a debt-to-equity ratio of 1.35. Silgan has a 52 week low of $38.11 and a 52 week high of $49.72. The stock has a market cap of $4.94 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.48 and a beta of 0.69.

Silgan (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.37 billion. Silgan had a return on equity of 19.26% and a net margin of 5.25%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same period last year, the company earned $0.78 EPS. As a group, sell-side analysts expect that Silgan will post 3.67 EPS for the current year.

Silgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, March 13th. This is an increase from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.64%. Silgan’s dividend payout ratio (DPR) is presently 26.67%.

Insider Activity at Silgan

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Principal Securities Inc. acquired a new stake in shares of Silgan in the 4th quarter valued at approximately $30,000. Quent Capital LLC lifted its stake in Silgan by 94.9% in the fourth quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 505 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Silgan by 92.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 538 shares during the period. Headlands Technologies LLC acquired a new position in shares of Silgan during the 3rd quarter worth about $70,000. Finally, Blue Trust Inc. raised its holdings in shares of Silgan by 4,440.4% in the 4th quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 2,087 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

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.