Silgan (NYSE:SLGN) Price Target Raised to $57.00 at JPMorgan Chase & Co.

Silgan (NYSE:SLGN) had its price objective increased by JPMorgan Chase & Co. from $53.00 to $57.00 in a research note published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

A number of other analysts have also recently weighed in on SLGN. Bank of America boosted their target price on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Truist Financial boosted their price objective on Silgan from $63.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Raymond James increased their target price on Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday. Royal Bank of Canada boosted their price target on Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company raised their price objective on shares of Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $64.22.

Silgan Trading Up 0.5 %

Shares of SLGN stock opened at $56.08 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. Silgan has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. The company has a market cap of $5.99 billion, a PE ratio of 21.74, a P/E/G ratio of 1.34 and a beta of 0.71. The stock’s fifty day moving average price is $53.67 and its two-hundred day moving average price is $51.80.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 19.77% and a net margin of 4.72%. Equities analysts predict that Silgan will post 4.09 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Monday, December 2nd. Silgan’s dividend payout ratio is currently 29.46%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Venturi Wealth Management LLC grew its holdings in shares of Silgan by 220.4% during the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after buying an additional 963 shares during the last quarter. GAMMA Investing LLC boosted its stake in Silgan by 51.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 606 shares during the last quarter. KBC Group NV increased its holdings in Silgan by 27.7% during the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 494 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Silgan by 13,482.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,124 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 3,101 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Silgan in the third quarter valued at approximately $154,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

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.