Nicola Wealth Management LTD. Acquires 19,000 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Nicola Wealth Management LTD. lifted its position in Silgan Holdings Inc. (NYSE:SLGN) by 24.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,900 shares of the industrial products company’s stock after purchasing an additional 19,000 shares during the period. Nicola Wealth Management LTD. owned 0.09% of Silgan worth $5,087,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SLGN. Daiwa Securities Group Inc. increased its position in shares of Silgan by 0.5% during the second quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock worth $1,696,000 after purchasing an additional 218 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Silgan by 5.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock worth $218,000 after purchasing an additional 250 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Silgan by 2.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 267 shares in the last quarter. Verdence Capital Advisors LLC raised its position in shares of Silgan by 5.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock valued at $390,000 after buying an additional 388 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Silgan by 1.1% during the 2nd quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock valued at $1,594,000 after buying an additional 421 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SLGN shares. Citigroup lifted their target price on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $59.00 target price (up previously from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Robert W. Baird boosted their target price on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan Price Performance

SLGN traded down $0.39 on Thursday, hitting $54.74. 92,413 shares of the company were exchanged, compared to its average volume of 563,194. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. The business’s fifty day moving average is $51.64 and its 200 day moving average is $48.50. Silgan Holdings Inc. has a fifty-two week low of $40.88 and a fifty-two week high of $55.32. The firm has a market capitalization of $5.85 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Monday, December 2nd. Silgan’s payout ratio is 27.54%.

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.