Dogwood Wealth Management LLC Invests $667,000 in Silgan Holdings Inc. (NYSE:SLGN)

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

A number of other institutional investors and hedge funds have also made changes to their positions in SLGN. CX Institutional purchased a new stake in Silgan in the first quarter valued at approximately $42,000. UMB Bank n.a. lifted its stake in Silgan by 254.9% in the first quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock valued at $46,000 after buying an additional 645 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Silgan in the first quarter valued at approximately $51,000. GeoWealth Management LLC acquired a new position in shares of Silgan in the fourth quarter valued at approximately $56,000. Finally, Continuum Advisory LLC grew its holdings in Silgan by 2,754.3% during the first quarter. Continuum Advisory LLC now owns 1,313 shares of the industrial products company's stock worth $67,000 after acquiring an additional 1,267 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Silgan

In related news, EVP Robert B. Lewis sold 10,000 shares of the firm's 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 sale, the executive vice president owned 153,378 shares of the company's stock, valued at approximately $8,576,897.76. This trade represents a 6.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction 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 sale, the vice president directly 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. Company insiders own 1.13% of the company's stock.

Silgan Stock Down 1.9%

Shares of SLGN stock traded down $1.10 during trading hours on Wednesday, reaching $55.48. The company had a trading volume of 971,725 shares, compared to its average volume of 665,342. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.67 and a current ratio of 1.14. Silgan Holdings Inc. has a twelve month low of $41.85 and a twelve month high of $58.14. The company has a market capitalization of $5.94 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 1.27 and a beta of 0.75. The stock's fifty day simple moving average is $54.66 and its 200 day simple moving average is $52.70.

Silgan (NYSE:SLGN - Get Free Report) last issued 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. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. Silgan had a return on equity of 20.00% and a net margin of 4.82%. Silgan's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. As a group, sell-side analysts expect 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 was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Monday, June 2nd. Silgan's dividend payout ratio (DPR) is 29.74%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Raymond James Financial raised 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 report on Tuesday, April 22nd. JPMorgan Chase & Co. raised Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price on the stock in a report on Thursday, May 1st. Truist Financial decreased their price objective on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Citigroup increased 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. Finally, Bank of America reiterated a "neutral" rating and set a $59.00 target price (up from $57.00) on shares of Silgan in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Silgan currently has an average rating of "Moderate Buy" and a consensus price target of $62.89.

Silgan 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.