RDA Financial Network Invests $242,000 in Silgan Holdings Inc. (NYSE:SLGN)

RDA Financial Network acquired a new position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 4,725 shares of the industrial products company's stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SLGN. UMB Bank n.a. boosted its position in shares of Silgan by 254.9% during the 1st quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock worth $46,000 after purchasing an additional 645 shares in the last quarter. GeoWealth Management LLC acquired a new stake in shares of Silgan in the fourth quarter valued at about $56,000. Bank of Jackson Hole Trust purchased a new stake in Silgan during the fourth quarter worth about $59,000. Smartleaf Asset Management LLC grew its position in Silgan by 1,229.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock worth $107,000 after buying an additional 1,906 shares during the period. Finally, Venturi Wealth Management LLC grew its position in Silgan by 153.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company's stock worth $185,000 after buying an additional 2,145 shares during the period. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLGN has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target for the company in a research report on Thursday, May 1st. Citigroup raised their price objective on Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Raymond James upgraded Silgan from an "outperform" rating to a "strong-buy" rating and decreased their target price for the stock from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Finally, Truist Financial lowered their target price on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $63.11.

Silgan Price Performance

Silgan stock traded up $0.62 during mid-day trading on Thursday, hitting $55.13. 494,491 shares of the company were exchanged, compared to its average volume of 664,639. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. The company has a market capitalization of $5.90 billion, a P/E ratio of 21.37, a PEG ratio of 1.27 and a beta of 0.76. The business's 50 day simple moving average is $52.45 and its two-hundred day simple moving average is $52.78. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.48 billion. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. Analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.45%. Silgan's payout ratio is 29.74%.

Insiders Place Their Bets

In related news, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total transaction of $128,530.90. Following the completion of the sale, the vice president now owns 1,380 shares of the company's stock, valued at approximately $74,589. This trade represents a 63.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $55.92, for a total value of $559,200.00. Following the completion of the transaction, the executive vice president now owns 153,378 shares in the company, valued at $8,576,897.76. This represents a 6.12% decrease in their position. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by company insiders.

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.