Dogwood Wealth Management LLC Acquires Shares of 13,051 Silgan Holdings Inc. (NYSE:SLGN)

Dogwood Wealth Management LLC acquired a new stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,051 shares of the industrial products company's stock, valued at approximately $667,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Silgan by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 921,651 shares of the industrial products company's stock worth $47,972,000 after purchasing an additional 106,183 shares in the last quarter. Atria Investments Inc boosted its position in shares of Silgan by 9.2% in the fourth quarter. Atria Investments Inc now owns 5,067 shares of the industrial products company's stock worth $264,000 after buying an additional 427 shares during the period. M&T Bank Corp grew its stake in Silgan by 2.4% during the 4th quarter. M&T Bank Corp now owns 16,970 shares of the industrial products company's stock valued at $883,000 after acquiring an additional 404 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Silgan in the 4th quarter valued at approximately $873,000. Finally, Arizona State Retirement System raised its holdings in shares of Silgan by 0.8% during the fourth quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company's stock worth $1,290,000 after acquiring an additional 195 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Silgan

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SLGN shares. Bank of America reissued a "neutral" rating and set a $59.00 target price (up from $57.00) on shares of Silgan in a research report on Wednesday. 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. JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target on the stock in a report on Thursday, May 1st. Truist Financial boosted their price objective on shares of Silgan from $62.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Raymond James Financial upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and lowered their target price for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Silgan currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.44.

Silgan Stock Performance

Silgan stock traded down $0.38 on Friday, hitting $54.96. The company's stock had a trading volume of 365,441 shares, compared to its average volume of 666,901. The firm has a market cap of $5.88 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 1.24 and a beta of 0.75. The company has a fifty day moving average price of $54.79 and a 200-day moving average price of $52.74. Silgan Holdings Inc. has a one year low of $42.56 and a one year high of $58.14. The company has a quick ratio of 0.67, a current ratio of 1.14 and a debt-to-equity ratio of 1.67.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. Silgan had a return on equity of 20.00% and a net margin of 4.82%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $0.69 earnings per share. The company's quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.20 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. Silgan's payout ratio is 29.74%.

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.