Nicola Wealth Management LTD. Buys 9,000 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Nicola Wealth Management LTD. boosted its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,900 shares of the industrial products company’s stock after acquiring an additional 9,000 shares during the period. Nicola Wealth Management LTD. owned 0.10% of Silgan worth $5,512,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas bought a new position in Silgan during the 3rd quarter worth $2,975,000. BNP Paribas Financial Markets increased its stake in Silgan by 144.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock worth $2,884,000 after acquiring an additional 32,432 shares during the period. Versor Investments LP increased its stake in Silgan by 112.7% during the 3rd quarter. Versor Investments LP now owns 10,208 shares of the industrial products company’s stock worth $536,000 after acquiring an additional 5,408 shares during the period. Ritholtz Wealth Management bought a new position in Silgan during the 4th quarter worth $620,000. Finally, Geode Capital Management LLC increased its stake in Silgan by 11.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock worth $78,509,000 after acquiring an additional 157,160 shares during the period. Institutional investors own 70.25% of the company’s stock.

Analysts Set New Price Targets

SLGN has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Robert W. Baird lifted their price target on Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Truist Financial reiterated a “buy” rating and issued a $70.00 price target (up previously from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Loop Capital lifted their price target on Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada lifted their price target on Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Silgan Trading Down 3.1 %

NYSE SLGN opened at $52.60 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a twelve month low of $41.14 and a twelve month high of $58.14. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. The business’s fifty day moving average is $53.13 and its 200 day moving average is $52.80.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. As a group, sell-side analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, March 17th. This is an increase from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.52%. Silgan’s payout ratio is presently 31.01%.

Insiders Place Their Bets

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the transaction, the executive vice president now directly owns 152,133 shares of the company’s stock, valued at approximately $8,096,518.26. The trade was a 11.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the transaction, the chief executive officer now directly owns 227,332 shares in the company, valued at $12,441,880.36. The trade was a 35.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

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.