Nicola Wealth Management LTD. Has $5.09 Million Stake in Silgan Holdings Inc. (NYSE:SLGN)

Nicola Wealth Management LTD. increased its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 24.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,900 shares of the industrial products company's stock after purchasing an additional 19,000 shares during the quarter. Nicola Wealth Management LTD. owned 0.09% of Silgan worth $5,087,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. lifted its holdings in shares of Silgan by 0.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company's stock worth $1,696,000 after acquiring an additional 218 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Silgan by 5.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company's stock worth $218,000 after acquiring an additional 250 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Silgan by 2.6% during the second 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 lifted its position in Silgan by 5.5% in the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company's stock valued at $390,000 after acquiring an additional 388 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Silgan by 1.1% in 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 purchasing an additional 421 shares during the period. Hedge funds and other institutional investors own 70.25% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Robert W. Baird upped their price objective on shares of Silgan from $53.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, August 1st. Royal Bank of Canada upped their target price on shares of Silgan from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised Silgan from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Truist Financial reissued a "buy" rating and issued a $59.00 price objective (up previously from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Finally, Wells Fargo & Company upped their price objective on shares of Silgan from $54.00 to $58.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Silgan has a consensus rating of "Moderate Buy" and an average target price of $57.43.

Silgan Price Performance

Shares of NYSE SLGN traded down $1.20 during mid-day trading on Thursday, reaching $53.93. 489,140 shares of the company traded hands, compared to its average volume of 565,109. The firm has a market cap of $5.76 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 0.75. Silgan Holdings Inc. has a fifty-two week low of $40.88 and a fifty-two week high of $55.32. The stock has a fifty day simple moving average of $51.72 and a 200-day simple moving average of $48.54.

Silgan (NYSE:SLGN - Get Free Report) last released its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.02). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. Silgan's revenue was down 3.2% on a year-over-year basis. Equities research analysts anticipate that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Monday, December 2nd. Silgan's dividend payout ratio is 27.54%.

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.