Silgan Holdings Inc. (NYSE:SLGN) Position Increased by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. increased its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 24.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,900 shares of the industrial products company’s stock after acquiring an additional 19,000 shares during the period. Nicola Wealth Management LTD.’s holdings in Silgan were worth $5,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets grew its position in shares of Silgan by 123.4% in the first quarter. BNP Paribas Financial Markets now owns 36,218 shares of the industrial products company’s stock valued at $1,759,000 after purchasing an additional 20,005 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Silgan by 46.5% in the first quarter. QRG Capital Management Inc. now owns 17,874 shares of the industrial products company’s stock valued at $868,000 after purchasing an additional 5,675 shares during the last quarter. William Blair Investment Management LLC grew its position in Silgan by 12.2% during the first quarter. William Blair Investment Management LLC now owns 5,229 shares of the industrial products company’s stock worth $254,000 after buying an additional 567 shares in the last quarter. Entropy Technologies LP grew its position in Silgan by 6.7% during the first quarter. Entropy Technologies LP now owns 8,478 shares of the industrial products company’s stock worth $412,000 after buying an additional 529 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in Silgan by 17.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 88,864 shares of the industrial products company’s stock worth $4,769,000 after buying an additional 13,289 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SLGN has been the topic of a number of research analyst reports. Robert W. Baird increased their price target on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Citigroup increased their price target on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Silgan presently has an average rating of “Moderate Buy” and a consensus price target of $57.43.

Silgan Stock Down 0.7 %

Shares of SLGN traded down $0.39 during midday trading on Thursday, hitting $54.74. The stock had a trading volume of 92,413 shares, compared to its average volume of 563,194. The company has a 50 day simple moving average of $51.64 and a two-hundred day simple moving average of $48.50. Silgan Holdings Inc. has a twelve month low of $40.88 and a twelve month high of $55.32. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 19.97, 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 (NYSE:SLGN) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. On average, analysts anticipate that Silgan Holdings Inc. will post 3.6 EPS for the current year.

Silgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.39%. Silgan’s dividend payout ratio (DPR) is presently 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.