Silgan (NYSE:SLGN) Hits New 12-Month High – What’s Next?

Silgan Holdings Inc. (NYSE:SLGN)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $55.32 and last traded at $55.11, with a volume of 74753 shares traded. The stock had previously closed at $54.52.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Truist Financial restated a “buy” rating and set a $59.00 price objective (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Robert W. Baird raised their price objective on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Citigroup raised their price objective on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.43.

Silgan Stock Performance

The company has a market capitalization of $5.76 billion, a PE ratio of 19.54, a PEG ratio of 1.44 and a beta of 0.67. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The firm’s 50-day simple moving average is $51.72 and its 200-day simple moving average is $48.54.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the firm earned $1.16 earnings per share. Silgan’s quarterly revenue was down 3.2% on a year-over-year basis. On average, research analysts predict that Silgan Holdings Inc. will post 3.6 earnings per share for the current year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.41%. Silgan’s dividend payout ratio is currently 27.54%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. QRG Capital Management Inc. boosted its holdings in shares of Silgan by 46.5% in the 1st quarter. QRG Capital Management Inc. now owns 17,874 shares of the industrial products company’s stock valued at $868,000 after acquiring an additional 5,675 shares during the last quarter. Entropy Technologies LP boosted its holdings in shares of Silgan by 6.7% in the 1st quarter. Entropy Technologies LP now owns 8,478 shares of the industrial products company’s stock valued at $412,000 after acquiring an additional 529 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Silgan by 17.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock valued at $4,769,000 after acquiring an additional 13,289 shares during the last quarter. Chesapeake Capital Corp IL purchased a new stake in shares of Silgan in the 1st quarter valued at $849,000. Finally, Covestor Ltd boosted its holdings in Silgan by 69.7% during the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after buying an additional 462 shares in the last quarter. Institutional investors own 70.25% of the company’s stock.

Silgan Company Profile

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.