Nomura Holdings Inc. Purchases Shares of 10,770 Silgan Holdings Inc. (NYSE:SLGN)

Nomura Holdings Inc. purchased a new stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,770 shares of the industrial products company's stock, valued at approximately $561,000.

A number of other institutional investors have also recently bought and sold shares of SLGN. Millennium Management LLC lifted its position in shares of Silgan by 764.7% in the fourth quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company's stock worth $52,708,000 after purchasing an additional 895,528 shares in the last quarter. FMR LLC lifted its position in shares of Silgan by 12.2% in the fourth quarter. FMR LLC now owns 7,046,400 shares of the industrial products company's stock worth $366,765,000 after purchasing an additional 767,944 shares in the last quarter. Norges Bank acquired a new position in Silgan during the fourth quarter worth $38,680,000. JPMorgan Chase & Co. increased its holdings in Silgan by 12.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock worth $301,670,000 after buying an additional 656,923 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in Silgan by 87.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,253,727 shares of the industrial products company's stock worth $65,257,000 after buying an additional 584,840 shares during the last quarter. Institutional investors own 70.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their target price on shares of Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Citigroup boosted their target price on shares of Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Raymond James upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and lowered their target price for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. Loop Capital upped their price objective on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada upped their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $63.11.

Silgan Trading Down 0.0%

Shares of Silgan stock opened at $56.09 on Wednesday. The firm has a 50-day moving average of $51.07 and a 200-day moving average of $52.73. The stock has a market cap of $6.00 billion, a PE ratio of 21.74, a PEG ratio of 1.27 and a beta of 0.74. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45.

Silgan (NYSE:SLGN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.48 billion. Silgan had a net margin of 4.72% and a return on equity of 19.70%. Silgan's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 earnings per share. As a group, sell-side analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.43%. Silgan's dividend payout ratio is 29.74%.

Insider Buying and Selling

In related news, CEO Adam J. Greenlee sold 125,000 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the sale, the chief executive officer now owns 227,332 shares of the company's stock, valued at $12,441,880.36. This represents a 35.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP B Frederik Prinzen sold 2,378 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total transaction of $128,530.90. Following the sale, the vice president now directly owns 1,380 shares of the company's stock, valued at $74,589. This represents a 63.28% decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

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.

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