Nicola Wealth Management LTD. Has $5.51 Million Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Nicola Wealth Management LTD. grew its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 9.3% during the fourth quarter, Holdings Channel reports. The firm owned 105,900 shares of the industrial products company’s stock after acquiring an additional 9,000 shares during the quarter. Nicola Wealth Management LTD.’s holdings in Silgan were worth $5,512,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLGN. FMR LLC lifted its stake in shares of Silgan by 87.7% in the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock valued at $329,619,000 after purchasing an additional 2,932,680 shares during the period. Weiss Asset Management LP bought a new stake in Silgan in the 3rd quarter valued at about $11,422,000. Bank of New York Mellon Corp increased its position in Silgan by 22.6% in the 4th quarter. Bank of New York Mellon Corp now owns 914,019 shares of the industrial products company’s stock valued at $47,575,000 after buying an additional 168,789 shares in the last quarter. Two Sigma Advisers LP increased its position in Silgan by 202.3% in the 3rd quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company’s stock valued at $13,015,000 after buying an additional 165,900 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Silgan by 11.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock valued at $78,509,000 after buying an additional 157,160 shares in the last quarter. 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 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the transaction, the executive vice president now owns 152,133 shares in the company, valued at approximately $8,096,518.26. This represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam J. Greenlee sold 125,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $54.73, for a total value of $6,841,250.00. Following the completion of the transaction, the chief executive officer now owns 227,332 shares in the company, valued at approximately $12,441,880.36. The trade was a 35.48 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by company insiders.

Silgan Stock Performance

SLGN stock opened at $52.60 on Tuesday. The firm has a market cap of $5.62 billion, a PE ratio of 20.39, a P/E/G ratio of 1.27 and a beta of 0.71. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The business has a 50 day moving average of $53.13 and a 200-day moving average of $52.80. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) 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 earnings per share for the current year.

Silgan Increases Dividend

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

Wall Street Analyst Weigh In

SLGN has been the subject of a number of recent research reports. Truist Financial reissued a “buy” rating and set a $70.00 price objective (up from $69.00) on shares of Silgan in a report on Thursday, January 30th. Loop Capital boosted their price objective on Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Raymond James boosted their price objective on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada boosted their price objective on Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Silgan currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.22.

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.