Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Silgan from a hold rating to a buy rating and set a $25.00 target price for the company in a research note on Monday, December 31st. TheStreet lowered shares of Silgan from a b- rating to a c+ rating in a research note on Wednesday, November 14th. KeyCorp reiterated a hold rating on shares of Silgan in a research note on Wednesday, October 24th. BidaskClub upgraded shares of Silgan from a sell rating to a hold rating in a research note on Wednesday, September 19th. Finally, Wells Fargo & Co decreased their target price on shares of Silgan from $30.00 to $26.00 and set a market perform rating for the company in a research note on Thursday, October 25th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $28.83.
SLGN stock opened at $25.04 on Monday. The company has a market capitalization of $2.62 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 1.03 and a beta of 0.72. Silgan has a 12-month low of $22.24 and a 12-month high of $31.05. The company has a current ratio of 1.17, a quick ratio of 0.70 and a debt-to-equity ratio of 2.40.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Monday, December 3rd were paid a $0.10 dividend. The ex-dividend date was Friday, November 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.60%. Silgan’s dividend payout ratio (DPR) is 24.24%.
In other news, CFO Robert B. Lewis sold 25,000 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $24.83, for a total value of $620,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William T. Donovan acquired 5,000 shares of Silgan stock in a transaction dated Monday, October 29th. The stock was bought at an average price of $23.75 per share, with a total value of $118,750.00. Following the completion of the purchase, the director now directly owns 8,235 shares in the company, valued at $195,581.25. The disclosure for this purchase can be found here. Insiders sold a total of 75,040 shares of company stock valued at $1,851,055 over the last 90 days. 30.32% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in shares of Silgan by 422.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,177 shares of the industrial products company’s stock worth $199,000 after purchasing an additional 5,802 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Silgan by 169.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 8,534 shares of the industrial products company’s stock worth $236,000 after buying an additional 5,368 shares in the last quarter. Commonwealth Bank of Australia purchased a new stake in Silgan in the 3rd quarter worth $330,000. LPL Financial LLC purchased a new stake in Silgan in the 3rd quarter worth $373,000. Finally, Pacer Advisors Inc. increased its stake in Silgan by 25.1% in the 3rd quarter. Pacer Advisors Inc. now owns 28,028 shares of the industrial products company’s stock worth $779,000 after buying an additional 5,624 shares in the last quarter. Hedge funds and other institutional investors own 67.46% of the company’s stock.
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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