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

Silgan logo with Industrials background

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.

View Our Latest Analysis on SLGN

Silgan Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Silgan (NYSE:SLGN)

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