4,725 Shares in Silgan Holdings Inc. (NYSE:SLGN) Bought by RDA Financial Network

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

Several other institutional investors have also recently added to or reduced their stakes in SLGN. UMB Bank n.a. grew 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 valued at $46,000 after buying an additional 645 shares during the last quarter. GeoWealth Management LLC bought a new position in shares of Silgan during the fourth quarter valued at approximately $56,000. Bank of Jackson Hole Trust bought a new position in shares of Silgan during the fourth quarter valued at approximately $59,000. Smartleaf Asset Management LLC raised its position in shares of Silgan by 1,229.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 1,906 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Silgan by 153.2% in the 4th quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 2,145 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.

Silgan Stock Up 1.2%

Silgan stock opened at $54.22 on Monday. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.27 and a beta of 0.76. The company’s 50-day moving average price is $52.16 and its two-hundred day moving average price is $52.76. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share. On average, analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.48%. Silgan’s dividend payout ratio (DPR) is 29.74%.

Insider Activity at Silgan

In other Silgan news, VP B Frederik Prinzen sold 2,378 shares of Silgan 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 transaction, the vice president now owns 1,380 shares in the company, valued at approximately $74,589. The trade was a 63.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the sale, the executive vice president now owns 153,378 shares of the company’s stock, valued at $8,576,897.76. This trade represents a 6.12% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SLGN shares. Raymond James upgraded Silgan from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the stock from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Truist Financial dropped their price objective on shares of Silgan from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upgraded shares of Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price objective on the stock in a research report on Thursday, May 1st. Finally, Citigroup boosted their target price on shares of Silgan from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Silgan has an average rating of “Buy” and an average price target of $63.11.

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.