Nomura Holdings Inc. Acquires New Position in Silgan Holdings Inc. (NYSE:SLGN)

Nomura Holdings Inc. bought a new stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,770 shares of the industrial products company's stock, valued at approximately $561,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLGN. GeoWealth Management LLC acquired a new stake in Silgan during the 4th quarter worth about $56,000. Bank of Jackson Hole Trust acquired a new stake in shares of Silgan during the fourth quarter worth about $59,000. Smartleaf Asset Management LLC boosted its position in Silgan by 1,229.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock valued at $107,000 after buying an additional 1,906 shares during the last quarter. KBC Group NV boosted its position in Silgan by 52.5% in the fourth quarter. KBC Group NV now owns 3,473 shares of the industrial products company's stock valued at $181,000 after buying an additional 1,196 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Silgan by 153.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company's stock worth $185,000 after buying an additional 2,145 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Price Performance

Shares of SLGN stock traded down $0.42 during mid-day trading on Monday, hitting $54.50. 392,417 shares of the stock were exchanged, compared to its average volume of 665,370. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. 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 company has a market cap of $5.83 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74. The firm has a fifty day moving average of $51.38 and a 200 day moving average of $52.76.

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

Silgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, June 2nd. Silgan's payout ratio is presently 29.74%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Truist Financial dropped their price objective 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. Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and lowered their price target for the company from $65.00 to $60.00 in a report on Tuesday, April 22nd. Loop Capital increased their price target on Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Robert W. Baird boosted their price objective on Silgan from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Citigroup upped their target price on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Silgan presently has a consensus rating of "Buy" and a consensus target price of $63.11.

Insiders Place Their Bets

In related news, EVP Robert B. Lewis sold 10,000 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the transaction, the executive vice president now directly owns 153,378 shares of the company's stock, valued at approximately $8,576,897.76. This trade represents a 6.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP B Frederik Prinzen sold 2,378 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total value of $128,530.90. Following the sale, the vice president now owns 1,380 shares of the company's stock, valued at approximately $74,589. This trade represents a 63.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

Silgan 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.