Silgan Holdings Inc. (SLGN) Given Consensus Rating of “Hold” by Brokerages
Shares of Silgan Holdings Inc. (NASDAQ:SLGN) have received an average rating of “Hold” from the thirteen research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $27.83.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Silgan from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. KeyCorp reaffirmed a “hold” rating on shares of Silgan in a report on Wednesday, April 24th. BidaskClub lowered Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. ValuEngine raised Silgan from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, TheStreet raised Silgan from a “c+” rating to a “b” rating in a report on Tuesday, February 5th.
Shares of SLGN stock traded up $0.12 during mid-day trading on Friday, reaching $30.18. 456,570 shares of the company were exchanged, compared to its average volume of 558,665. Silgan has a fifty-two week low of $22.24 and a fifty-two week high of $30.90. The company has a current ratio of 1.15, a quick ratio of 0.62 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $3.31 billion, a P/E ratio of 14.51, a PEG ratio of 1.77 and a beta of 0.82.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, May 31st. Silgan’s payout ratio is currently 21.15%.
In related news, insider Adam J. Greenlee sold 110,000 shares of Silgan stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $29.90, for a total value of $3,289,000.00. Following the transaction, the insider now owns 131,367 shares of the company’s stock, valued at approximately $3,927,873.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP B Frederik Prinzen sold 12,242 shares of Silgan stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $30.06, for a total value of $367,994.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 350,814 shares of company stock worth $10,370,531. 30.32% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Oxford Asset Management LLP increased its position in Silgan by 9.0% in the 1st quarter. Oxford Asset Management LLP now owns 118,199 shares of the industrial products company’s stock worth $3,502,000 after buying an additional 9,779 shares during the period. Ellington Management Group LLC bought a new position in Silgan in the 1st quarter worth approximately $329,000. Cornercap Investment Counsel Inc. increased its position in shares of Silgan by 2.8% during the first quarter. Cornercap Investment Counsel Inc. now owns 41,985 shares of the industrial products company’s stock valued at $1,244,000 after purchasing an additional 1,135 shares during the period. Hsbc Holdings PLC increased its position in shares of Silgan by 35.1% during the first quarter. Hsbc Holdings PLC now owns 23,773 shares of the industrial products company’s stock valued at $705,000 after purchasing an additional 6,174 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Silgan by 3.9% during the first quarter. Geode Capital Management LLC now owns 853,762 shares of the industrial products company’s stock valued at $25,296,000 after purchasing an additional 31,865 shares during the period. 66.59% of the stock is currently owned by hedge funds and other institutional investors.
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 pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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