Silgan (SLGN) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Silgan (NASDAQ:SLGN) from a sell rating to a hold rating in a report published on Monday, February 4th.

Several other equities analysts also recently commented on SLGN. Zacks Investment Research upgraded shares of Silgan from a hold rating to a buy rating and set a $25.00 price target on the stock in a research note on Monday, December 31st. BidaskClub upgraded shares of Silgan from a sell rating to a hold rating in a research note on Saturday, December 8th. Barclays reduced their price objective on shares of Silgan from $35.00 to $33.00 and set an overweight rating on the stock in a research note on Monday, October 29th. Royal Bank of Canada reduced their price objective on shares of Silgan to $25.00 and set a sector perform rating on the stock in a research note on Monday, October 29th. Finally, TheStreet cut shares of Silgan from a b- rating to a c+ rating in a report on Wednesday, November 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $28.45.

Shares of SLGN opened at $28.54 on Monday. The stock has a market capitalization of $3.16 billion, a PE ratio of 13.72, a P/E/G ratio of 1.74 and a beta of 0.83. Silgan has a fifty-two week low of $22.24 and a fifty-two week high of $29.78. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.20 and a current ratio of 0.40.

Silgan (NASDAQ:SLGN) last issued its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Silgan had a net margin of 5.03% and a return on equity of 26.82%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.02 billion. Equities research analysts anticipate that Silgan will post 2.17 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 18th will be issued a dividend of $0.11 per share. This is a positive change from Silgan’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, March 15th. This represents a $0.44 annualized dividend and a yield of 1.54%. Silgan’s dividend payout ratio (DPR) is presently 19.23%.

In other news, CEO Anthony J. Allott sold 25,320 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $28.33, for a total transaction of $717,315.60. Following the completion of the sale, the chief executive officer now owns 972,075 shares of the company’s stock, valued at approximately $27,538,884.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William C. Jennings sold 6,362 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $28.81, for a total transaction of $183,289.22. Following the sale, the director now directly owns 39,053 shares of the company’s stock, valued at approximately $1,125,116.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,172 shares of company stock valued at $2,709,435. Company insiders own 30.32% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB grew its position in Silgan by 1.1% in the 4th quarter. Nordea Investment Management AB now owns 758,192 shares of the industrial products company’s stock valued at $17,908,000 after purchasing an additional 8,467 shares during the period. Amalgamated Bank grew its position in Silgan by 16.0% in the 4th quarter. Amalgamated Bank now owns 16,178 shares of the industrial products company’s stock valued at $382,000 after purchasing an additional 2,226 shares during the period. Public Employees Retirement System of Ohio grew its position in Silgan by 7.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 26,332 shares of the industrial products company’s stock valued at $622,000 after purchasing an additional 1,835 shares during the period. Legal & General Group Plc grew its position in Silgan by 8.4% in the 4th quarter. Legal & General Group Plc now owns 115,427 shares of the industrial products company’s stock valued at $2,727,000 after purchasing an additional 8,900 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in Silgan by 9.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 19,663 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 1,767 shares during the period. 67.05% of the stock is owned by institutional investors and hedge funds.

Silgan Company Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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Analyst Recommendations for Silgan (NASDAQ:SLGN)

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